By Michael Elkins

Tesla, Inc. (NASDAQ:) is up 3.4% in pre-market trading Monday as the company’s CEO, Elon Musk, backtracks from earlier statements that the worlds leading electric car maker would be cutting employment by 10%.

Musk replied to a Twitter account unidentified that predicted that Tesla’s total headcount would rise over the next twelve months.

The email circulated among Tesla executives on Thursday, stating that Musk felt a “super bad” feeling about America’s economy and that he needed to reduce the number of jobs by around 10%. Musk also sent another email Friday to his employees, stating that Tesla will reduce its salaried workforce by 10% because it is “overstaffed” in many areas. He said, however that the “hourly workforce will grow.”

Tesla shares plunged 9.2% in the wake of Friday’s news.

Musk, in an email sent to Tesla employees on Wednesday, gave an ultimatum that he would return to his office within 40 hours of the emails relating to staffing.

“Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” Musk wrote in an email titled “To be super clear.” “Moreover, the office must be where your actual colleagues are located, not some remote pseudo office. If you don’t show up, we will assume you have resigned.”