Elon Musk, the wealthy founder of Tesla Inc., claims that the electric vehicle manufacturer has to slash around 10% of its workforce.
He mentioned this in an email addressed to corporate leaders on Thursday, marked “stop all hiring worldwide,” according to Reuters.
The news came two days after he told his employees that they needed to work at least 40 hours a week or they would be fired.
In the email, the business magnate expressed his dissatisfaction with the economy and stated that he has a “very awful feeling” about it.
However, the world’s wealthiest man did not elaborate on the grounds for his concern about the United States’ economic prospects.
Musk has been warning about the possibility of a recession in recent weeks.
Similarly, Jamie Dimon, CEO of JPMorgan Chase, has warned of an impending economic “storm,” urging Americans to prepare.
Tesla’s stock fell over 3% in pre-market trading in the United States on Friday, while its Frankfurt-listed stock fell 3.6 percent afterward.