Electric truck maker Nikola to lay off 270 employees

U.S. electric vehicle and electric truck corporation Nikola will lay off 270 employees to cut costs, writes Bloomberg, citing a company post.

“Nikola has made a thorough review of its organizational structure and has made the difficult but strategic decision to reduce headcount,” it said in a statement.

It is specified that this will affect 150 European employees and 120 workers from the US states of Arizona and California. According to the agency, Nikola estimates savings from the decision to cut staff at $50 million annually.

Last summer, The Wall Street Journal, citing a letter from the American electric vehicle manufacturer Rivian Automotive Inc. informedthat the company plans to lay off will lay off 6% of employees – this is 840 people out of 14,000. The chief executive officer of the company, RJ Scaringe, said in an address to employees that in the current conditions, taking into account accelerated inflation, rising interest rates and prices for raw materials, receive additional funding is extremely difficult.

American companies announce staff cuts regularly. In February about this reported Dell Inc. The company laid off 6650 of its employees, which is 5% of its total staff. Similar measures were taken by Dell’s competitors, such as HP, which cut 6,000 employees in the fall of 2022. Cisco Systems Inc. and IBM laid off 4,000 each. According to consulting firm Challenger, Gray & Christmas (led Bloomberg, in 2022 the technology sector announced the reduction of 97,171 jobs, which is 649% more than a year earlier.