You’re here had chained good results at the beginning of the year and had generated solid profits, seeming to validate all the efforts made for years to increase production capacity and reach new audiences, but the context has changed significantly for some time.
The war in Ukraine, with its economic uncertainties and a significant rise in inflation which is derailing the post-pandemic recovery, but also the brutal confinement of Shanghai, has created a climate obscuring the outlook.
Tesla boss Elon Musk told his executives that he has a “super bad feelingabout the economy and would consider cutting 10% of the automaker’s workforce, according to emails seen by the agency Reuterswhile the company had approximately 100,000 employees at the end of 2021.
The economic weather is getting worse
The businessman also intends to pause recruitment within the company. His statements on teleworking (come back to the office or leave Tesla) a few days ago already showed a certain feverishness and undoubtedly the fear of an economic recession in the coming months.
Tesla’s share price fell by 5% on the release of this information in a context of a significant drop compared to its value at the very beginning of the year. However, the manufacturer is not showing any sign of weakness in its deliveries or production, even if the impact of containment on the Shanghai Gigafactory 3 and inflation on the prices of vehicles but also raw materials remains to be determined. required.
Elon Musk is not the only business leader to worry about the deterioration of the economic climate and many of them expect short-term difficulties, contributing to a general nervousness of the markets already disturbed by the coup. tech stocks stop rising.
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