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It never hurts to be prepared for a downturn in the economy.
Reportedly, Elon Musk sent an email on Thursday ordering a freeze on new hiring and wrote that he has a “super bad feeling” about the state of the economy.
Extremely high inflation, supply chain issues, less than optimal stock market numbers, and slowing economic conditions would have anyone battening down the hatches at one of the world's largest companies.
Couple that with a less productive work from home staff, and statements like this should not be newsworthy or a surprise from any business point of view. But as of late, the straight-shooting Musk has been a guiding light for much of the world to follow during these uncertain times.
Governments have increased interest rates as of late to try and slow inflation, but refuse to paint a less than rosy outlook for the economy while continuing to print money they don't have. Regardless of what lies ahead, being somewhat cautious usually does more good than harm.
