19
Jun
15:16
Nikola to lay off 270 workers, to focus on North American sales
Electric truckmaker Nikola says it plans to lay off 270 workers or 23% of its workforce and to limit its efforts to North American sales, Kallanish reports.
The company says 120 workers at two Arizona plants will be paid off along with 150 workers who have been supporting the company’s European programmes. About 900 workers will remain.
The cuts will reduce personnel-related expenses by $50 million/year, as the company works to preserve its cash. It estimat…
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Anonymous
Very good overview of the weekly steel market.
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