Elon Musk seeks to cut 10% of Tesla workforce: Report
New York, Jun 3: Tesla shares tumbled about 9% Friday on a report that CEO Elon Musk is considering laying off 10% of the company's workers, as well as new questions from U.S. regulators over complaints of the electric vehicles braking for no reason.
In an email Thursday to Tesla executives titled pause all hiring worldwide," Musk wrote that he had a super bad feeling about the economy and that the company needed to cut staff, Reuters reported.
Tesla had around 10000 employees worldwide according to recent regulatory filings, including its subsidiaries.
Tesla shares have lost nearly one-third of their value since early April, shortly after Musk first publicly floated the idea of buying Twitter.
Tesla shares fell 66 to 709 Friday. Shares were trading around 1,150 just two months ago.
President Joe Biden, while giving a speech on Friday's jobs report in Rehoboth Beach, Delaware, was asked about Elon Musk saying he's pessimistic about the U.S. economy.
While Elon Musk is talking about that, Ford is increasing their investment overwhelmingly and I think Ford is increasing the investment in building new electric vehicles, Biden responded.
Six thousand new employees -- union employees I might add -- in the Midwest. The former Chrysler Corporation, Stellantis, they're also making similar investments in electric vehicles. Intel's adding 20,000 new jobs making computer chips.
There were other issues Friday that may have been weighing on Tesla's stock.
Government regulators reported Friday that more than 750 Tesla owners have complained that cars operating on the automaker's partially automated driving systems have suddenly stopped on roadways for no apparent reason.
The National Highway Traffic Safety Administration revealed the number in a detailed information request letter to Tesla that was posted on the agency's website.
It's the fourth formal investigation of the Texas automaker in the past three years, and NHTSA is supervising 23 Tesla recalls since January of 2021.
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US rules out use of nuclear weapons against Iran
Washington DC: The White House has reportedly ruled out the use of nuclear weapons against Iran, even as uncertainty continues over ongoing peace negotiations and a deadline set by US President Donald Trump approaches.
Issues bout a possible escalation had increased after US Vice President JD Vance said that the United States has “tools in our toolkit that we so far haven’t decided to use” in dealing with Iran.
His remarks came amid rising tensions and ahead of a deadline linked to peace efforts.
The situation has attracted attention as Trump warned Iran that its “whole civilization will die tonight tonight” if an agreement is not reached by Tuesday at 8 pm.
This statement led to speculation about the possibility of extreme military measures, including a nuclear strike.
Following Vance’s comments, the White House issued a clarification distancing itself from such interpretations. In a post on X, it said, "Literally nothing @VP said here 'implies' this, you absolute buffoons." In a later statement, it added that “only the president knows” what action will be taken regarding Iran.
Literally nothing @VP said here "implies" this, you absolute buffoons https://t.co/7JU3wXMaWX
— Rapid Response 47 (@RapidResponse47) April 7, 2026
