The billionaire said he had a “very bad feeling” about the economy and that the electric carmaker needed to cut around 10% of its workforce, according to an internal email seen by Reuters.
Here’s a list of other U.S. companies that have announced layoffs or frozen hiring to cut costs:
- Meta Platforms
Meta, Facebook’s parent company, said in May that it would slow its workforce growth. - Coinbase
Coinbase will extend its hiring freeze for the foreseeable future and cancel a number of accepted offers to deal with current macro conditions. - Twitter
CEO Parag Agrawal said in a memo that the social network would suspend hiring and review existing job postings to determine if any of them “should be taken down.” - Interactive Platoon
In February, Peloton announced that it would cut about 2,800 jobs from the company to reinvigorate its declining sales. - Snap Inc.
In May, Snap Inc CEO Evan Spiegel told employees that the company would slow down hiring this year. - netflix
Netflix said it laid off around 150 people in May, mostly in the United States, as the streaming service company faces slowing growth. - carvana
Carvana said it will lay off around 2,500 employees, or 12% of its workforce. - Robinhood Markets
The retail trading platform announced in April that it would lay off about 9% of its full-time employees. - Uber Technologies
Uber will cut hiring, marketing and incentive spending, Reuters reported in May, citing a letter from the CEO. - Lyft
The company said in May it would slow hiring and assess budget cuts in some departments
Source: Regulatory filings, Reuters articles, company websites.