Tesla shares fall 8% as Musk plans to reduce workforce

Friday, 03. June 2022 17:43

Shares of Tesla Inc extended losses on Friday's session after Elon Musk said he is considering a hiring freeze and 10% job cuts at his electric vehicle and renewable energy company.

Musk would be requiring all Tesla and SpaceX staff to stop working remotely and report to the main office for a minimum of 40 hours a week.

Tesla's shares dipped 8.07% at 11:41 am ET to sell for $712.

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