Tesla factories

Elon Musk who is the Tesla CEO has ordered a pause in hiring in all Tesla factories worldwide, as he also planned to do away with about 10% of the salaried staff.

A message sent to executives on Thursday laid out his concerns, his “super bad feeling” about the economy.

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.

Tesla shares fell 9% in U.S. trade on Friday after the Reuters report.

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