Analysis | Musk's Warning | Friday, June 3, 2022:
Source: reuters.com Analysis: Musk's warning could be auto industry's 'canary in the coal mine' moment June 3, 20221:07 PM GMT-5 5-6 minutes June 3 (Reuters) - 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% 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. read more Musk's warning is the first loud and public dissent in a united stance by the auto industry that underlying demand for cars and trucks remains strong despite two years of global pandemic. One executive this week called demand "sky high." &qu