According to a news report from Electrek, Tesla
Although it is not entirely clear as to the real reason behind the layoffs, the CEO has indicated that it could possibly be from the "very bad feeling" regarding the economy. Tesla is also dealing with some major setbacks in terms of its extreme decrease in stock prices.
Elon Musk has stated that, in terms of stock market decreases, this began in late September and early October. The stock market overall plummeted nearing the end of October, and it became even worse as soon as Musk acquired Twitter.
Musk has revealed that Tesla would observe a 3.5% overall decrease in employees over the next several months. Musk attributed the depleting state of the stock market on Federal Reserve rate increases.
On the Twitter platform, Musk has been referencing macroeconomic trends. He thinks it is absurd that people are suggesting that Twitter is the reason that Tesla's costs are dropping, and stated this past Tuesday that he plans to remove himself as Twitter CEO as soon as he can seek a replacement.
In spite of this news, however, Tesla has still decided to provide discounts on some of its electric vehicles. Musk remains certain that there is a forthcoming recession that will likely impact the quarter. But according to many critics, this is just an excuse for downward patterns that could last all the way through 2023.
In the near future, it is anticipated that Tesla will better be able to find the way to being open to having more employees. And, though Musk seems to be shifting gears in a big way, he will hopefully shed some light on the future of Tesla's stock.
