Nikola says the job cuts alone will save it more than $50 million annually car auto cars
Nikola has announced that it will reduce its headcount by 270 members as it looks to slash costs and optimize its business.
As part of an effort to reduce its cash spend while streamlining operations, approximately 150 employees working across multiple sites on the truck manufacturer’s European programs will be shown the door. The other 120 employees will be axed from Nikola’s Arizona sites in Phoenix and Coolidge. Select employees from Nikola’s facility in Cypress, California will also lose their jobs.
says reducing its headcount will reduce personnel-related cash spend by more than $50 million annually and leave it with 900 employees.will concentrate more heavily on the North American market and also plans to sell its joint venture share to Iveco Group. The company is also going to better localize its supply chain as a way to reduce the material cost of its trucks. It will do this by transitioning battery manufacturing from Cypress, California to the Nikola plant in Coolidge, Arizona.
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