The car manufacturer
Tesla
has been one of the fastest growing companies in the world in recent years.
Most recently, the US company increased its sales by more than 80 percent within twelve months.
The number of employees increased at the corresponding rate.
But now Tesla boss
Elon Musk
is stepping on the brakes with full force.
The group, which recently had thousands of vacancies to fill, will not be hiring any new employees for the time being, Musk wrote in an internal email.
On the contrary: the CEO apparently plans instead to lay off around 10 percent of the approximately 100,000 Tesla employees worldwide.
These measures are probably the clearest alarm signal from the US economy to date.
Musk wrote in his email that he had a "super bad feeling" about the development of the economy.
In doing so, he joins the increasingly loud chorus of admonishers warning of an impending recession in the USA.
The high inflation rates, the change in interest rate policy by the central banks, which many observers believe may come too late, the war in Ukraine and global delivery backlogs - more and more experts fear that the economy will not be able to withstand these burdens.
Jamie Dimon
, head of the US bank
JP Morgan
, advised on Thursday
that the economy should prepare for an approaching "hurricane".
Today, Friday,
John Waldron
, top banker from competitor
Goldman Sachs
, followed up and warned of an impending crisis for the global economy.
Professional investors have already designed crisis strategies for such a crisis.
What the US recession will look like is also a topic in the British "Economist".
Twelve recessions have hit the US since World War II, but the next one will be different, say colleagues.
Unlike after the energy shocks of the 1970s, unlike after the high inflation of the early 1980s and unlike the dot-com crash of 2000. The Economist's assessment of what is currently brewing in the economy and financial system, can be found at manager-magazin.de.
The business news of the day:
More money for start-ups:
Almost all parties had already announced during the election campaign that they wanted to promote the German start-up scene more.
Economics Minister
Robert Habeck
has now presented a strategy paper that aims to achieve this.
Especially in turbulent times, young companies should be able to access venture capital more easily in the future.
Tax money for Intel:
The US chip manufacturer
Intel
announced in March that it wanted to build two new factories near Magdeburg.
Total volume of the investment according to the group: 17 billion dollars.
As it became known today, the Americans do not have to shoulder the sum alone.
Rather, the federal government wants to support the factory construction with a total of 6.8 billion euros.
What else was important today:
Techno crisis in Wolfsburg:
Volkswagen
has set itself the goal of transforming itself from a conventional car manufacturer into a technology company.
The plan comes primarily from CEO
Herbert Diess
: Diess is also responsible for the subsidiary
Cariad
, which is intended to make Volkswagen's techno dreams come true.
But after a promising start, the company's transformation is now in danger of failing.
In our podcast, our colleagues Michael Freitag and Sven Clausen explain why this is and what the problems mean for Volkswagen CEO Diess.
My recommendation for the evening:
The name Lürssen stimulates the imagination.
Lürssen is the shipyard in Bremen where the world's super rich have their luxury yachts built.
Floating palaces more than 100 meters long, with pool, cinema, helipad and other abundance on board.
The war in Ukraine also changed everyday life at Lürssen.
Most of the billionaire oligarchs from Russia are not available as customers for the time being because of the sanctions imposed by the West.
At the same time, the second part of Lürssen's activities, the construction of military ships, gain momentum.
In this exceptional situation, our colleague Thomas Werres met the shipyard bosses
Friedrich Lürßen
and
Peter Lürßen
for one of her rare interviews.
You can find his report on the amazing business model of the two cousins at manager-magazin.de.
Best regards, your Christoph Rottwilm
