Getting “blame the market” vibes on this one. This, in addition to his recent “work in-office or leave” emails make me think he’s been looking for an excuse to cut off 10% of Tesla for a bit. Not a horrible thing, just how it looks to me.
At least he doesn't have to do much, most of engineering is probably leaving.
No great loss, as Elon probably does it all himself on those little pads beside the bed at hotels. The engineers probably just slow down his ideas, anyway.
/s for the humour impaired. But yeah, he’s setting up for one impressive layoff and trying to dodge the rules and payments.