businessman Elon Musk He corrected this Friday by saying that Tesla would only lay off 10% of office staff, not the entire company as he indicated Thursday, causing a drop in the company’s stock market.
Shares of the American automaker in New York closed at $703.55, 9.22% lower than Thursday’s value.
Musk sent a letter to company officials on Thursday that was leaked to the press. In the text, he requested a 10% reduction in the workforce because he feels the economy is going to go through hard times.
On Friday, in another email, this time sent to all Tesla employees, the businessman backed off. He explained that the job cuts will only affect certain departments.
As revealed by CNBC, Musk’s latest messages indicate that Tesla will cut 10% of its office staff because it considers some regions to have a large number of employees.
“This does not apply to anyone who assembles cars, batteries, or installs solar panels,” Musk said. He added that the workforce in those areas will actually increase.
Musk and Biden
Musk’s correction also comes after US President Joe Biden criticized the businessman for justifying his decision to lay off workers due to their intuition about the poor health of the economy.
Biden announced Friday that while Tesla wants to cut jobs, rivals like Ford or Stellantis have announced billions of dollars in investments in the United States to increase their production and that they will create thousands of jobs.
Highlighting job creation for Tesla’s competitors, the president wished Musk “good luck on his trip to the moon.”
In the past, Biden has already encountered the eccentric businessman, who in turn allied himself with the positions championed by former President Donald Trump (2017-2021).
Musk responded to Biden on Twitter with, “Thank you, Mr. President!” And a NASA statement indicates that SpaceX, another entrepreneur’s company, has been chosen to take American astronauts to the moon.
In another tweet, Musk said old age rule, in reference to governments of senior citizens, is a problem that can be solved by limiting the maximum age in the world of politics. Biden is 79 years old.
Telecommuting at Tesla has ended
Two days ago, Musk was the richest man in the world according to Forbeshe told Tesla workers to forget about working remotely and have to choose between spending at least 40 hours a week in company offices or leaving the car manufacturer.
“Anyone who wants to work remotely needs to stay in the office for at least 40 hours (and I want to stress the ‘minimum’) for 40 hours a week or leave Tesla,” Musk said.
Musk justified his decision because, he said, the most interesting items on the planet cannot be created and produced through phone calls.