Elon Musk: A Recession in the US Is Inevitable at Some Point

Jun 21,2022
KingData News: Elon Musk spoke at the Qatar Economic Forum, saying that "a recession in the US “is inevitable at some point,” he said. “As to whether there is a recession in the near-term, that is more likely than not.” In response to Tesla job cut issues, Musk said, “Tesla is reducing its salaried workforce roughly 10% over the next three months or so. We expect to grow our hourly workforce. We grew very fast on the salaried side, grew a little too fast in some areas.” Supply constraints are the biggest brake on Tesla’s growth, rather than competition from rival automakers, as Musk pointed out. “Our constraints are much more in raw materials and being able to scale up production,” he said. (Bloomberg)
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