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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Hemant Karkare killed by RSS-linked cop, not Kasab: Maharashtra LoP Vijay Wadettiwar
BJP writes to ECI for action against Cong leader Wadettiwar for 'defaming' Ujjwal Nikam
Mumbai, May 5: The BJP has written to the Election Commission of India seeking action against Congress and the opposition leader, Vijay Wadettiwar, for allegedly peddling lies and defaming its Mumbai North Central nominee and ex-26/11 prosecution lawyer Ujjwal Nikam.
Wadettiwar, the leader of the opposition in the Maharashtra legislative assembly, purportedly called Nikam an "anti-national" and accused him of hiding the information that then Maharashtra ATS chief Hemant Karkare wasn't killed by Kasab's bullet during the 26/11 terror attack, but fell to a bullet of a policeman affiliated to RSS.
His allegations were based on the book "Who Killed Karkare" written by retired police officer SM Mushriff.
"As a responsible leader, the opposition leader should desist from making such comments that can help the enemy nation," Nikam said.
Terming Wadettiwar's statements as "false and not based on facts", Mumbai BJP president Ashish Shekar claimed they were aimed at defaming Ujjwal Nikam and inciting emotions.
"We have written to the Election Commission of India seeking action against Wadettiwar who is a star campaigner (of Congress) and also against the Congress party for peddling lies," he added.
Shelar further said (Ajmal) Kasab was sentenced to death for killing innocent people after following a due process of law.
Kasab was the lone terrorist who was captured alive by Mumbai Police during the 26/11 terror attack by Pakistani terrorists in which at least 166 people were killed and several others were injured.
Shelar wondered whether Shiv Sena (UBT) chief Uddhav Thackeray supported the statement made by the Congress leader.
A former special public prosecutor, Nikam had represented the state in high-profile cases like the Mumbai serial bomb blasts and the 2008 Mumbai terror attack.
He is making his political foray from Mumbai North Central seat on a BJP ticket and is pitted against city Congress chief Varsha Gaikwad.
