Elon Musk startled the market when it was revealed he has frozen hiring and will cut 10% of Tesla’s staff, amid “super bad” economic worries. Tesla stock fell Friday after rising Thursday.

The revelations came in an internal company email titled, “pause all hiring worldwide,” from Musk himself, according to Reuters. Musk announced the hiring freeze effective immediately, and notified that the 10% staff cuts will be necessary. 10% of Tesla’s workforce is about 10,000 jobs. Musk added that he had a “super bad” feeling about the economy.

All of this is despite the fact Tesla just opened two new EV factories in the past few months. In addition Tesla’s Shanghai plant finally saw local COVID restrictions lifted and began to ramp up production.

Tesla stock had risen 4.7% during Thursday’s market rally, but had already fallen 5% before Friday’s open.