Musk's Red Pill Journey
Within a matter of days, Elon Musk announced that Tesla employees would have to return to in-person work at the office, followed almost immediately by an announcement that 10% of them would be laid off nevertheless . Tesla CEO Elon Musk wants to slash 10% of jobs at the company due to his “super bad feeling” about the economy, according to a Friday report from Reuters. The United States economy shrank at a 1.5% annualized rate in the first quarter of 2022, according to the Bureau of Economic Analysis, which associates recessions with two consecutive quarters of negative growth. In a Thursday email to executives seen by Reuters, Musk instructed Tesla to “pause all hiring worldwide” and said that the company needs to cut 10% of jobs. Tesla currently has more than 99,000 employees, The New York Times reported. Before the most recent news on economic activity, the U.S. had been recovering from COVID-19 and the lockdown-induced recession — growing at a strong 5.7% in 2021 after contr...