DOHA -- Tesla CEO Elon Musk said a 10 percent cut in salaried staff at the electric vehicle producer will happen over three months, as the world's richest man predicted a U.S. recession was more likely than not.
His remarks were his most detailed explanation of job cut plans and his first in-person appearance since Reuters reported at the start of this month that the company needed to cut staff by about 10 percent and was pausing hiring worldwide.
Speaking at the Qatar Economic Forum organized by Bloomberg, Musk said the cuts would apply only to salaried workers, meaning a 3.5 percent reduction in total headcount, changes he described as "not super material."
But he expressed concern about the prospect of a U.S. recession.
"It's not a certainty, but it appears more likely than not," he said.