Tesla and SpaceX CEO is thinking of cutting at least 10 percent of Tesla jobs according to an email the Chief sent to the company's executives cited by Reuters on Friday.
The report added that Musk informed all directors to pause all hiring worldwide. This directive order came two days after Tesla's Cheif demands to his working teams to return to the office or leave.
The shares of the car making company dropped by 3% in the markets on Friday in the US, and by 3.5 in Frankfurt, Germany stocks by 3.6.
Although the demands for electric vehicles are still strong around the world, Tesla still has issues with starting production in its Shanghai factory.
Carsten Brzeski, a Researcher at one of the leading Duch banks, told Business Standard: "Musk's bad feeling is shared by many people."
Brzeski added: "But we are not talking about global recession. We expect a cooling of the global economy towards the end of the year. The U.S. will cool off, while China and Europe are not going to rebound."
In late April, the famous car company Tesla Inc lost $126 in value as investors are concerned over the company’s founder and Chief Executive Elon Musk’s intention of selling shares to fund the Twitter takeover.
Tesla is not part of Musk’s Twitter deal, however, the shares of the company have dropped by 12.2%, $21 billion drop in the value of Tesla.
On the other hand, Twitter shares fell by 3.9% to close at $94.68 regardless of Musk’s $54.20 per share in cash.
Previously, the Tesla chairman officially bought the leading social media platform which stormed all world headlines over what’s next for the platform’s regulations.
Twitter is likely to accept Elon Musk’s ‘best and final’ offer and sell itself to the world’s richest man.
Musk had bid $54.2 per share for the microblogging network, and Twitter might announce the $43 billion takeover in the coming hours if its board receives the required approval from other shareholders.
Follow the latest news on Google News
