--- title: "Elon Musk Says He’s Cutting Ten Percent of Tesla’s Workforce Because He Has a “Bad Feeling”" description: "Tesla CEO Elon Musk is planning to cut ten percent of Tesla staff and freeze hiring worldwide because he has a \"super bad feeling\" about the economy." date: "2022-06-03" modified: "2022-06-03" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor.md" url: "https://futurism.com/the-byte/elon-musk-cutting-ten-percent-tesla-workforce" categories: - "Advanced Transport" - "Elon Musk" - "Future Society" - "Tesla" - "The Industrialists" tags: - "elon musk" - "tesla" - "the digest" --- # Elon Musk Says He’s Cutting Ten Percent of Tesla’s Workforce Because He Has a “Bad Feeling” ![Tesla CEO Elon Musk is planning to cut ten percent of Tesla staff and freeze hiring worldwide because he has a "super bad feeling" about the economy.]() *\Image: Getty Images/Futurism\* ## Super Bad Tesla CEO Elon Musk is planning to cut ten percent of Tesla staff and freeze hiring worldwide because he has a "super bad feeling" about the economy, according to an email sent to executives and [obtained by *Reuters*](). Tesla shares dropped by almost three percent in premarket trading today, according to the report. Unsurprisingly, Musk did not elaborate on his rationale. But it's indicative of his larger concerns about an imminent economic downturn, which could put his car company — [viewed as highly overvalued]() by many, including [sometimes Musk himself]() — in jeopardy. ## Boss Baby The message was sent just two days after Musk instructed employees at the car company to [come back to work full time]() at the office or quit, furthering the sense that the mercurial CEO may be internally panicking. Musk also argued last week that the world is approaching a recession, which he said would be "actually a good thing." "It has been raining money on fools for too long," he [tweeted]() at the time. "Some bankruptcies need to happen." Analysts, however, aren't quite convinced that Musk is right. "Musk’s bad feeling is shared by many people," Carsten Brzeski, global head of macroeconomic research at Dutch bank ING, told *Reuters*. "But we are not talking about global recession. We expect a cooling of the global economy towards the end of the year." ## Tesla Tank Tesla has also been [struggling with resuming full operations]() at its plant in Shanghai, China, with local COVID-19 rules making it extremely difficult to [accommodate workers at the site](). Musk's cursed attempt to buy Twitter has only added to Tesla's woes, with [shares plummeting]() during the [extraordinarily chaotic sale attempt](). Whether the entire global economy will be along for Musk's wild ride, however, remains to be seen. **READ MORE:** [Elon Musk plans to cut 10 percent of Tesla staff because of his 'super bad feeling' about the economy]() \[*Reuters*\] **More on Tesla:** *[Former Tesla Manager Says Workers Will Actually Love Elon Musk's Tyrannical Email]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]() ## More - [Elon Musk: “I Feel a Bit Bad About Hating on the Oil and Gas Industry”]() - [Elon Musk Fires More Than Ten Percent of Tesla’s Staff After Alienating Pretty Much Everyone Who Might Have Bought a Tesla]() - [Buyers Are Avoiding Teslas Because Elon Musk Has Become So Toxic]() - [This Might Be the Reason Elon Musk Is Firing a Ton of People at Tesla]() - [One of Tesla’s Largest Shareholders Calls to Ditch Elon Musk]() - [Elon Musk Is Suddenly Selling Tesla Stock Like Crazy]() - [Wow! Elon Musk Says Tesla’s Person in a Robot Costume Will Become a Real Robot at Some Point in the Future]() - [Elon Musk Rivals Snatch Up Laid-Off Tesla Employees]()