Austin, Texas - Tesla CEO Elon Musk is reportedly planning to cut jobs within the company by 10%.

As first reported by Reuters, a company email was sent to executives on Thursday titled "pause all hiring worldwide."

Musk called for a hiring freeze and a company-wide 10% cut to its workforce due to a "super bad feeling" he has about the future of the economy.

The news caused a fallout as Tesla shares in the US immediately saw a 3% drop on Friday.

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According to its annual SEC filing, at the end of 2021, Tesla had nearly 100,000 employees.

Two days earlier, Musk came under fire for sending an email to employees demanding they return to work in the office.

JPMorgan Chase CEO Jamie Dimon shared similar concerns about the economy earlier this week when he said, "a hurricane is right out there down the road coming our way."

It will be interesting to see if Musk follows through on his plans in the near future.