Tesla founder Elon Musk has announced a pause in hiring for all positions, this comes as Tesla stocks slid 4.8% in New York Premarket trading. Contracts on the Nasdaq 100 were 1% lower with S&P 500 futures dropping 0.6% so far. Tesla’s Musk also said that the car company needs to cut staff around 10%, noting that he had a “super bad feeling” about the economy in an email seen by Reuters. The world’s richest man told Tesla employees to return to the workplace or leave the company. Other electric car stocks such as Nikola Corp. and Rivian Automotive Inc. also fell after the statement made by Musk.
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