Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment

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Musk’s warning could be auto industry’s ‘canary...
 © CyprusMail 2022
Tesla (TSLA.O) CEO Elon Musk’s “super bad feeling” about the economy could be the auto industry’s “canary in the coal mine” moment, signaling a recession for an industry whose bosses have shown no signs of concern.

Musk said the electric carmaker needed to cut about 10 per cent of its workforce in an email to executives seen by Reuters. He later told staff that white-collar ranks were bloated and he would keep hiring workers to make cars and batteries.

Musk’s warning is the first loud and public dissent in a united stance by the auto industry that...


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Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment


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