Elon Musk puts pause on Tesla hiring due to ‘super bad feeling’ about economy

Tesla and its subsidiaries employ nearly 100,000 people around the world, however CEO Elon Musk is warning that given the state of the economy, the company will have to make some cuts.

In an email leaked to Reuters, Musk told executives that the company will have to cut around 10 percent of jobs, and "pause all hiring worldwide."

The email was sent to executives on Thursday. Musk explained that the reason behind his decision was a "super bad feeling" about the economy, but did not get into specifics.

Tesla's share price fell on Friday, down nearly 10 percent from the day before.

As Electrek reports, Musk's comments come just days after he sent out emails to employees warning them that the days of working remotely were over.

"Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla," Musk wrote. "This is less than we ask of factory workers."

He added that the workspace must be a "main Tesla office, not a remote branch office unrelated to the job duties."

"If you don't show up, we will assume you have resigned," Musk warned, adding, "There are of course companies that don’t require this, but when was the last time they shipped a great new product? It’s been a while."

"The more senior you are," he continued, "the more visible must be your presence. That is why I lived in the factory so much; so that those on the line could see me working alongside them. If I had not done that, Tesla would long ago have gone bankrupt."

Musk's sentiments are shared by JPMorgan Chase CEO Jaime Dimon, who recently warned of an impending economic "hurricane."