Elon Musk blows hot and cold

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Photo credit © Reuters

(Boursier.com) — Tesla who ended sharply down 9.2% on Friday on Wall Street, rose more than 3% to $725 on Monday, while Elon Musk, managing director of the electric vehicle manufacturer, watered down his wine this weekend… Last week, the leader who had made it clear to his employees that the return to face-to-face work was “essential”, first indicated that he had a “super bad feeling” about the future of the economy… In an internal email, Musk explained that he wanted to cut 10% of the group’s workforce, while Tesla currently employs 100,000 people globally.. The billionaire returned in part on Saturday to his remarksensuring that the total headcount of the group would increase over the next 12 months…

Musk is not the first boss to worry about the economic risk deemed “very important”. At the end of May, the boss of JP MorganJamie Dimon, had indicated that he feared a “hurricane” to come…

Musk’s message about the hiring freeze and job cuts came just two days after the world’s richest man told his employees he wanted to see them”return to face-to-face work or leave the company“, a request that has already been pushed back in Germany where the company has a new factory… “Everyone at Tesla is required to spend at least 40 hours in the office per week,” Musk wrote in the email. “If you don’t show up, we’ll assume you quit.”

Fear of a Great Recession

Musk also got into a Twitter row with Australian ‘techno’ billionaire and Atlassian Plc co-founder Scott Farquhar, who mocked American’s exit in a series of tweets considering it “like something from the 1950s“. Musk immediately replied: “Recessions perform a vital economic cleaning function“, in response to a tweet from Farquhar that encouraged Tesla employees to look into its remote workstations.

At the end of May, Elon Musk sounded the alarm in view of the probable arrival of a severe recession: “It’s been raining money on fools for too long. Some bankruptcies must happen”, had said the boss of Tesla…


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