Tesla cuts job openings since Elon Musk's economic warning

Tesla has cut job postings by 14 per cent since Chief Executive Elon Musk warned he was worried about the economy, needed to reduce staff and would pause hiring worldwide.

Tesla's actions are a concerning sign of the health of the global economy as markets contract, inflation soars and recession worries run rampant.

The number of job listings on Tesla's website has dropped to 5,011 from 5,855 at the start of the month, according to data provided to Reuters by Thinknum Alternative Data. Listings are down 32 per cent from a recent high on May 21.

In addition, about 20 people identifying themselves as Tesla employees said they were laid off, let go or had positions terminated in the past week in online postings and interviews with Reuters. That is a tiny number compared to the size of Tesla's workforce, but several described being part of a 10 per cent job reduction, signaling that the company is indeed laying off workers.

Other Tesla workers cited a sense of uncertainty over how job cuts would be implemented and said Musk’s order earlier this month that they return to the office and stop working remotely had made their positions untenable. 

Tesla did not respond to Reuters' request for comment.

The full scope of the job reductions and to what extent those cuts have been offset by additional hiring was not immediately clear, and Tesla remains a sought-after employer with a climate-focused mission and a record of innovation that has fueled rocketing vehicle sales.

Tesla, which had about 100,000 employees globally at the end of last year, also canceled three online recruitment events for China that had been scheduled this month. Read full story

Tesla has continued to hire in some areas, including Germany, where Tesla is ramping up production on a delayed electric vehicle factory near Berlin. The regional economy minister for Brandenburg, the state where the plant is located, said earlier this week that Tesla was hiring 500 to 600 new workers per month and had recruited about 4,500 people so far.