Elon Musk Facing A Rough Patch: Laysoffs At Tesla, Work from Office Call For Its Tesla, SpaceX etc.

Elon Musk-Tesla's CEO of Tesla, Founder, CEO and Chief Engineer at SpaceX or precisely the business magnate is seeing a rough patch.

Amid the sell-off that gripped US stocks post the Fed outcome, the shares of Tesla lost over 6% during the last week.

Elon Musk Facing A Rough Patch: Laysoffs At Tesla, Work from Office Call For Its Tesla, SpaceX etc.

Other issues faced by Elon Musk

Musk's other big entity SpaceX saw firing of a group of employees after they reportedly floated an internal letter which spoke again the CEO and found and called him as "distraction and embarrassment."

Alongside, the company's Starship rocket program received a long to-do list from the Federal Aviation Administration before it could actually get a license for launching the same in Boco Chica, Texas.

Layoffs at Tesla

As per the claims of the CEO, the electric vehicle entity has once again started with layoffs and this time not just salaried employees but as reported it is impacting hourly workers too. Importantly, the layoffs come in the course of the end-of-quarter delivery requirement.

Also, as per the IANS report that cites auto-tech site Electrek, it informed that earlier this month Musk in a mail to company executives said that it would need to cut its workforce by 10% and at the same time pause hiring on having a "super bad feeling" about the economy.

Concern with Twitter

In April this year Elon Musk showed his intent to take over the social media company for $44 billion. As against the $54.2 agreed on to by Musk, shares of Twitter are currently trading at around $37.

Now there are concerns surfacing of what the future holds for the company and whether the deal shall actually materialise or not. So, for the first time Musk's video address with the staff at Twiitter seemed as a move towards gaining a sense of transparency and trust with the people by the future owner. Nonetheless it was widely panned.

Tesla and SpaceX workers called to work from office

As against the earlier CEO Jack Dorsey who promised its employees permanent remote work ing, Musk demands Tesla and SpaceX employees to come of the office for atleast 40 hours per week.

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