Image Credit source: AP
Elon Musk said that Tesla will lay off 10 percent of its employees. Apart from this, the hiring process is being stopped with immediate effect all over the world. The company has also decided to eliminate work from home completely.
Elon Musk is always in the headlines for one reason or the other. The latest case is his company Tesla (TeslaElon Musk said that there is a very bad experience about the economy. In such a situation, Tesla will lay off 10 percent of its employees. On Thursday, the company has issued a notice in this regard and said that for the time being the company has decided to stop the hiring process all over the world. Before Musk (Elon Musk) had said that now work from home is being abolished. He clearly said that either you start coming to the company or you should leave the job. In the email sent to the employee, it was said that every employee will come to the office for at least 40 hours in a week. If you do not come to the office, it will be assumed that you have resigned.
Tesla manufactures electric vehicles. Recently, users have complained about this car. He says that the car is braking without any reason. Due to this news, Tesla shares have fallen by about 10 percent. According to regulatory information, there are currently about one lakh employees working with Tesla. This number also includes employees working in Tesla’s subsidiaries.
The stock slipped from 1150 to $ 709
Amidst all this news, Tesla shares fell by $ 66 to $ 709 on Friday. Till two months ago, the company’s shares were trading around $1150. Meanwhile, US government regulators said on Friday that more than 750 Tesla vehicle owners have complained about the cars. Customers say that cars running on partially automatic driving system are suddenly stopping on their own for no apparent reason.
Car sales will be affected due to recession
Musk thinks recession is very near. If inflation rises, the demand for electric cars will increase. Signs of this are also starting to appear. Inventory of car dealers has started increasing in America. Tesla has a large manufacturing unit in Shanghai. After Corona, the operational cost of the company has also increased. Inflation in America is currently at the highest level of four decades. Many economists are predicting a recession.
Source: www.tv9hindi.com
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