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Of the 270 employees impacted, 150 were supporting Nikola’s European operations and 120 were based at its sites in Phoenix and Coolidge.
The decision would help Nikola reduce personnel-related cash spend by $50 million annually, the company said.
Annual cash usage for the company was expected to decrease to under $400 million by 2024, Nikola added.
Shares of the Phoenix-based automaker were up 3.4% at $1.23 in trading after the bell.
