{"id":39139,"date":"2022-06-06T17:29:08","date_gmt":"2022-06-06T17:29:08","guid":{"rendered":"https:\/\/harchi90.com\/elon-musk-pulls-back-on-job-cuts-plans-for-tesla\/"},"modified":"2022-06-06T17:29:08","modified_gmt":"2022-06-06T17:29:08","slug":"elon-musk-pulls-back-on-job-cuts-plans-for-tesla","status":"publish","type":"post","link":"https:\/\/harchi90.com\/elon-musk-pulls-back-on-job-cuts-plans-for-tesla\/","title":{"rendered":"Elon Musk pulls back on job cuts plans for Tesla"},"content":{"rendered":"
That’s according to a tweet from its ever-mercurial CEO Elon Musk – an apparent contradiction to two emails he sent staff last week about planned job cuts and a hiring freeze, which pushed Tesla shares lower.<\/p>\n
It’s not clear whether Musk equates a 10% salaried headcount cut with “fairly flat”: As has long been the case at Tesla, it did not respond to a request for formal comment on the reported emails.<\/p>\n
The initial job cuts email was a “mini-disaster” for Tesla shares, said Dan Ives, tech analyst for Wedbush Securities. “Any hint of economic softness from an influential person like Musk will be heard around the world,” he said.<\/p>\n
Despite those challenges, however, Tesla is still enjoying more demand for its cars than it can supply, Ives said.<\/p>\n
“Last week’s email set off nervousness with investors around demand for no reason and put pressure on the stock,” he said. “You can see why Musk is not waking up a good mood before he sent that email. That said, he probably he should have had coffee before he sent it. It clearly backfired.”<\/p>\n