Tesla Inc. 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% 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."

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Elon Musk Outlines Job Cuts In Face Of Looming Recession

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