Tesla chief government Elon Musk informed prime managers he had a “super bad feeling” concerning the economic system and that the electrical carmaker wanted to chop workers by round 10%, based on an inner electronic mail seen by Reuters.
The electronic mail, titled “pause all hiring worldwide”, was despatched to Tesla executives on Thursday, and underscored an more and more gloomy financial outlook for the globe, as costs soar and warfare in Ukraine handed its one centesimal day.
The message from Musk got here shortly after Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase, described the challenges dealing with the U.S. economic system as akin to a “hurricane”.
REACTIONS:
“Musk’s bad feeling is shared by many people,” mentioned Carsten Brzeski, world head of macroeconomic analysis at Dutch financial institution ING.
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“We’re talking about stagnation and a global economy which has to go through significant structural change, such as decarbonisation, deglobalisation and adjusting to older societies.”
“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.”
“Laying off workers, however, is not the best reaction. We will need skilled workers more than ever in the future. This could turn into firing and then hiring,” he mentioned.
