Shares of Tesla (NASDAQ: TSLA) were down 8.8% as of 11:17 a.m. ET on Friday after Reuters reported that Elon Musk sent an email to employees disclosing the need to cut about 10% of the company's jobs. According to the report, Musk expressed a "super bad feeling" on the direction of the economy.
Image source: Getty Images.
The news comes after Tesla delivered new records in revenue and profitability in the last quarter. Despite ongoing supply chain challenges, the electric vehicle (EV) maker delivered 310,048 cars and reported revenue growth of 81% year over year, with adjusted earnings per share (EPS) accelerating 246% year over year.
Source Fool.com