Tesla Jobs: Elon Musk has a ‘very bad feeling’ about the economy

Tesla (TSLA) It employs about 100,000 people at the company and its subsidiaries at the end of 2021, according to its annual SEC filing.

The company was not immediately available for comment.

Musk’s stark warning of a potential recession and a knock-on effect for automakers is the most direct and best-known forecast of its kind in the industry.

While concerns about recession risks grew, demand for Tesla cars and other electric vehicles remained strong and many traditional indicators of deflation – including an increase in US dealer inventories – did not materialize.

But Tesla has struggled to resume production at its site Shanghai factory After the Covid-19 shutdowns that led to costly factory outages.
Musk’s bleak outlook reflects recent comments from executives including c. B. Morgan Chase (JPM) CEO Jamie Dimon and Goldman Sachs (p) President John Waldron.

“There’s a hurricane on the road coming our way,” Damon said this week.

Inflation in the United States is hovering at its highest levels in 40 years and causing a jump in the cost of living for Americans, while the Federal Reserve faces the difficult task of curbing demand enough to curb inflation while not causing a recession.

“Pause All Recruitment”

Prior to Musk’s warning, which came in an email titled “Pause all hiring worldwide,” Tesla had about 5,000 jobs posted on LinkedIn from sales in Tokyo and engineers at its giant new Berlin factory for deep learning scientists in Palo Alto.

Musk’s demand for employees to return to the office has run into obstacles in Germany.

“Everyone at Tesla is required to spend at least 40 hours in the office per week,” Musk wrote in his Tuesday email. “If you don’t show up, we’ll assume you quit.”

On Thursday, Musk also became embroiled in a Twitter spat with the Australian tech billionaire and Atlassian (Team) Co-founder Scott Farquhar, who mocked the directive in a series of tweets calling it “like something from the 1950s”.

“The recession serves a vital economic cleansing function,” Musk tweeted in response to a tweet from Farquhar encouraging Tesla employees to consider remote work jobs.

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