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Elon Musk orders 10 per cent staff lay off at Tesla

Elon Musk has directed Tesla department heads and executives to lay off about 10 per cent of its workforce. If the 2021 claim of having 99,290 employees is still true, then, nearly 10,000 people will lose their jobs with Musk directive.

In the internal memo that the billionaire sent, he cited his gut feeling about the economy as the reason he wanted to cut down on its number of employees. Additionally, he ordered hiring freeze as well.

If you have been following tech industry news, it is likely not a surprise that Tesla is planning to let many of its employees go. Many businesses are batting down for a bad economic situation ahead. Also, given the company’s reputation, including the COVID-motivated furlough and salary cut of 2020, it is not a surprise at all.

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In addition, Elon Musk had recently told employees that remote work was no longer an option, going as far as telling them that their absence would be assumed to mean resignation.

There have been several theories as to why Musk, who was always in a good mood in the early parts of the year, have seemingly turned his attitude around. Some experts cite the Twitter takeover issues, Tesla stock drop, inflation and so on. Also, there is also the fact that crypto is going down and the Tesla boss has a coin, Dogecoin, which he backs with his wealth.

The truth is, all these factors could be coming together to paint a gloomy economic outlook for Elon Musk.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.