Elon Musk wants to cut 10% of Tesla jobs

Tesla CEO Elon Musk said in an email to all employees at the electric vehicle maker on Friday that the company will cut 10% of salaried workers and will instead rely on more hourly workers. In the email, Chief Executive Elon Musk also said that he had a "super bad feeling" about the economy.

A message sent to executives on Thursday laid out his concerns and told them to "pause all hiring worldwide." The dire outlook came two days after the billionaire told staff to return to the workplace or leave and adds to a growing chorus of warnings from business leaders about the risks of recession.

Musk's stark warning of a potential recession and the knock-on effect for automakers is the most direct and high-profile forecast of its kind in the industry.

While concerns about the risk of a recession have grown, demand for Tesla cars and other electric vehicles has remained strong and many of the traditional indicators of a downturn - including increasing dealer inventories in the United States - have not materialized.

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