Lucy Nicholson / Reuters
Elon Musk, CEO of Tesla, which has announced several cost-cutting moves recently.
- $4 laid off 150 people from its recruiting team, Electrek reported Tuesday.
- The layoffs amounted to about one-third of the team, according to the report,.
- The move is latest in a series of steps Tesla has taken to shore up its finances.
$4 on Tuesday laid off about 150 people from its recruiting team, amounting to about one third of the staff in the operation, $4.
Those affected by the move were informed Tuesday and will be getting severance from the company, Electrek reported. Tesla decided to fire the employees in an effort to cut costs, according to the report.
Read this: Leaked email reveals Elon Musk must approve every person Tesla hires>$4
The layoffs are the latest in a string of moves by the company to shore up its finances. On Monday Tesla announced that $4 on all of its cars except for its entry level Model 3, reversing a price cut it put in place less than two weeks earlier. At the end of February, Tesla announced that it would focus on selling its cars online and $4, although it backtracked this week and said it would $4.
From the end of February through last week - before the latest job cuts - the company had $4. Tesla has also asked employees $4 and to limit their travel.
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Get the latest Tesla stock pricehere.>$4