June 26, 2022

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Elon Musk reverses job cuts - E24

Elon Musk reverses job cuts – E24

Earlier this week, the world’s richest man said he wanted to cut staff. Now he says something completely different.

Elon Musk acquired Tesla in 2004 and took over as CEO in 2008.
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Earlier this week, Tesla CEO Elon Musk sent a shocking email to his employees.

Musk wrote in the email: -Tesla will reduce fixed-salary employees by 10 percent due to increased headcount in many areas, According to CNBC. Bloomberg and Reuters have also seen the internal message.

According to the company’s annual report, Tesla had nearly 100,000 employees at the end of last year.

The next day, Tesla’s stock fell 9.2 percent on the stock exchange.

Now Musk appears to be turning his back on job cuts.

– the total number of employees will increase, but the number with a fixed salary will remain more or less constant, Tesla CEO Elon Musk wrote in response to Twitter Late on Saturday night.

This will happen over the next 12 months, according to Twitter messages Musk replied.

Feeling ‘very bad’ about the economy

In an email to employees, Musk also wrote that the number of hourly paid employees should increase.

“I have a very bad feeling about the economy,” Musk wrote in the e-mail.

In addition, Tesla had to stop all hiring globally, according to the email sent before Musk apparently reversed the job cuts.

At the same time, the deduction should not apply to everyone.

“The 10 percent reduction does not apply to those who already make cars, batteries, or install solar power,” Musk wrote.

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Forcing employees to return to the office

Earlier this week, Musk made another controversial statement about working conditions at Tesla.

Working from home is no longer acceptable, Musk wrote in an email subject to employees.

In the email, the Tesla boss wrote that employees who want to work from home can only do so after working at least 40 hours a week in the office.

“If you don’t show up, I’ll assume you quit,” Musk wrote in the email.

Most of the big tech companies, to which Tesla is sometimes compared, have yet to claim a return to the office.

Read on E24 +

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