Tesla layoffs catch the attention of U.S. Labor Secretary Marty Walsh

U.S. Labor Secretary Marty Walsh says it's time for his new billionaire acquaintance Elon Musk to give him another phone call as the Tesla CEO eyes mass layoffs at the EV maker.

"I had a conversation with Mr. Musk about two months ago," Walsh told Yahoo Finance Live about potential layoffs at Tesla (video above). "I would love to follow back up with him about what more we can do as a government. Quite honestly, this is not just a government response. This is a business response as well [as a response to] where we are headed with the economy."

In a new internal memo obtained by Reuters, Musk stated that Tesla would be pausing hiring and laying off 10% of the company's 100,000 global workforce as the world richest man had a "super bad feeling" about the economy.

"Certainly Elon Musk is a very smart person and he is looking at where he is in the economy, where the company is," Walsh said. "I am hopeful that won't happen out there. I am hopeful as we continue to move forward we will continue to see our economy get stronger."

https://finance.yahoo.com/news/tesla-layoffs-labor-secretary-marty-walsh-185648821.html