(Reuters) – Elon Musk spooked investors on Friday with a warning on the economy and plans to cut Tesla’s workforce, joining a growing list of U.S. companies that have dialed back hiring amid decades-high inflation and fallout from the Ukraine crisis.
The billionaire said he has a “super bad feeling” about the economy and that the electric carmaker needs to axe about 10% of its workforce, according to an internal email seen by Reuters.
Following is a list of some other U.S. companies that have announced layoffs or frozen hiring to rein in costs:
COMPANIES COMMENTS
Meta Facebook parent Meta said in May it will slow the growth of its workforce
Platforms Inc
Coinbase Coinbase will extend its hiring freeze for the foreseeable future and rescind
Global Inc a number of accepted offers to deal with current macroeconomic conditions
Twitter Inc CEO Parag Agrawal said in a memo that the social media company will pause
hiring and review existing job offers to determine whether any “should be
pulled back”
Peloton Peloton in February said it will cut about 2,800 corporate jobs as it looks to
Interactive revitalize sagging sales
Inc
Snap Inc CEO Evan Spiegel in May told employees the company will slow hiring for this
year
Netflix Netflix in May said it has laid off about 150 people, mostly in the U.S., as
the streaming service company faces slowing growth
Carvana Co Carvana said it will lay off about 2,500 employees, or 12% of its workforce
Robinhood The retail trading platform said in April it is laying off about 9% of its
Markets Inc full-time employees
Uber Uber will scale back hiring and reduce expenditure on its marketing and
Technologies incentive activities, Reuters reported in May, citing a letter from the CEO
Inc
Lyft Inc The company said in May it will slow down hiring and assess budget cuts in
some departments
Source:- Regulatory filings, Reuters stories, company websites
(Reporting by Tiyashi Datta in Bengaluru; Editing by Sweta Singh and Devika Syamnath)
