According to a source familiar with the matter, Elon Musk, the boss of Tesla, has called for a hiring freeze in the first quarter of 2023 and a new wave of layoffs. The reason ? The leader would have a “very bad feeling” about the economy.
Elon Musk has undoubtedly had happier days than he does now. Caught in the middle of a media storm after its takeover of Twitter and a management that was strange to say the least, things are not always going better at Tesla where, even if sales are good, internally, there is some turbulence.
Last June, Elon Musk had already asked Tesla executives to “suspend all hiring” and cut 10% of the workforce.
A strange timing
And it’s not over yet. According to the American media Electrek which is based on a source close to the file, Tesla will implement a hiring freeze and confirmed that another wave of layoffs is expected to occur in the first quarter of 2023.
The reason ? They are many, but one of the main ones will be a ” bad feeling “ from Elon Musk to the global economic situation.
Tesla’s rapid growth has obviously led to a flurry of hiring in recent years, and hiring freezes are often a more or less “normal” phenomenon after a period of intense hiring. This also sometimes leads to a series of layoffs, as is currently the case for the American manufacturer.
However, in the case of Tesla, this hiring freeze is more concerning, because the manufacturer has several ongoing programs with rapid growth, and must in particular hire thousands of people to operate its new factories in the United States and Germany. However, over the last semester, Tesla has recruited a lot of staff to deal with these new openings.
A moving year for Tesla
These movements occur when Tesla shares have plummeted all year, despite records recorded in full every quarter this year. This is partly due to a broader market downturn in 2022, even though Tesla stock has not followed the market trend in recent months.
The recent big drop corresponds to the acquisition of Twitter by Elon Musk and to his sale of Tesla shares to finance the social network.
But Tesla’s problems wouldn’t just stop at the stock market. Indeed, the manufacturer has recently started to practice discounts and temporary advantages on certain vehicles, as was the case very recently on Tesla Model Y in France.
All the models would also have left in a few minutes thanks to a cumulative discount of 7,000 euros for certain Model Y Propulsion in stock.
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