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Tesla CEO Elon Musk’s “super bad feeling” about the economy could be the auto industry’s “canary in the coal mine” moment, signaling a recession for an industry whose bosses have shown no signs of concern.

Musk said the electric carmaker needed to cut about 10% of its workforce in an email to executives. He later told staff that white-collar ranks were bloated and he would keep hiring workers to make cars and batteries.

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