Elon Musk Plans To Cut Tesla (TSLA) Workforce Due To “Super Bad Feeling” About The Economy

This Week's Tesla Stock Split Could Be The Best Moment To Buy The Stock! Twitter Stock Price Plunged!

Summary:

  • Musk plans to cut Tesla workforce by 10%

Tesla Stock fell on Friday

On Friday the Tesla share price fell in the wake of Musk announcing plans to cut the electric-vehicle giant's workforce by 10% amidst having a “super bad feeling” about the economy. Causing the stock price to drop by 7.8% on Friday.

Reports showed that Musk ordered a hiring freeze for Tesla across the globe, and believes it is necessary to reduce his workforce by 10%. Musk is not alone in his belief that a recession could become a reality, however, the influence Musk has is strong, and often recessions that are consumer-led can be self-fulfilled.

Elon Musk Plans To Cut Tesla (TSLA) Workforce Due To “Super Bad Feeling” About The Economy - 1 TSLA Stock Price

Sources: finance.yahoo.com, fool.com, investors.com

This Week's Tesla Stock Split Could Be The Best Moment To Buy The Stock! Twitter Stock Price Plunged!

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.