It seems that employees at Elon Musk’s companies are not getting a break. Nearly two months after firing more than 60% of Twitter’s staff, it appears that job cuts may also be coming at Tesla. According to a report by The Electrek, Tesla plans to suspend hiring new employees and layoffs in the first quarter of 2023.
This isn’t the first time in recent months that Tesla has suspended hiring or laid off employees. Previously, Elon Musk sent an email to staff expressing concern, saying he had a “very bad feeling” about the economy. After Musk’s email, Tesla halted hiring and laid off 10% of its workforce.
This time, the likely reason for the layoffs and hiring freeze is the drop in Tesla’s stock over the year. However, Tesla continues to achieve record results almost every quarter. So far, neither Musk nor Tesla have commented on this matter.
Tesla is not the first company to announce mass layoffs. In recent months, nearly every major tech company has announced a series of layoffs. Meta, Amazon, Cisco, Intel, Micron, and HP are some of the companies that have carried out mass layoffs.