Musk details Tesla staff cuts

Published

4 years ago

June 22, 2022

ticker NEWS

Elon Musk, CEO of Tesla, said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a U.S. recession was more likely than not

Elon Musk set out on Tuesday (June 21) how the job cuts he proposed at Tesla will happen.

The electric carmaker’s CEO said a 10% cut in salaried staff would happen over three months.

Earlier this month, Reuters reported Tesla needed to cut staff by about that amount, and had frozen hiring worldwide.

Musk said the layoffs would apply only to salaried workers. This means a total headcount would be down 3.5%.

Speaking at the Qatar Economic Forum, he also predicted a U.S. recession could be on its way.

”Well, I think a recession is inevitable at some point. As to whether there is a recession in the near term, I think that is more likely than not. Certainly isn’t a certainty, but it appears more likely than not.”

Earlier this month, Musk wrote that he had a “super bad feeling” about the economy.

His thoughts echo other business leaders including JPMorgan Chase CEO Jamie Dimon.

He said in early June that a ‘hurricane is right out there down the road coming our way’.

A potential U.S. recession has been a growing concern for chief executives, the Federal Reserve, and the Biden administration.

President Joe Biden said Monday (June 20) he felt a U.S. recession was not inevitable.

Although the country is tackling higher gas prices and inflation is at its highest in 40 years.

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Commodities surge as oil volatility and metals hit record highs

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Published

4 hours ago

January 16, 2026

Harvey Vargas

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.

Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.

To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.

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#Commodities #OilPrices #Gold #Metals #MarketVolatility #Geopolitics #Investing #TickerNews

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Stocks slide and Trump cancels talks: What’s next for markets and Greenland?

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

Published

2 days ago

January 15, 2026

Harvey Vargas

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.

Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.

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#StockMarket #SP500 #DowJones #BankEarnings #TrumpNews #Iran #Greenland #Geopolitics

Money

U.S. budget deficit falls to $1.67 trillion

US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.

Published

2 days ago

January 15, 2026

Harvey Vargas

US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.

The US budget deficit has dropped to $1.67 trillion in 2025, the lowest in three years, driven by record customs revenue from President Donald Trump’s tariffs. While this marks a positive shift for the economy, challenges loom with potential Supreme Court rulings on tariffs and falling corporate tax receipts.

David Scutt from StoneX explains the key factors behind the decline in the deficit and what December’s figures reveal about the overall fiscal health of the US.

We also explore the potential implications of upcoming Supreme Court decisions and how the One Big Beautiful Bill Act could impact future deficits. Stay informed on what these changes mean for the economy and markets.

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#USBudget #DeficitUpdate #TrumpTariffs #FiscalPolicy #Economy2025 #SupremeCourtImpact #CorporateTaxes #FinancialNews