Tesla just laid off 150 recruitment workers as part of its broader cost cutting (TSLA)

• Tesla 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.

Tesla on Tuesday laid off about 150 people from its recruiting team, amounting to about one third of the staff in the operation, according to Electrek.

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

The layoffs are the latest in a string of moves by the company to shore up its finances. On Monday Tesla announced that it would raise the prices 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 would shutter most of its retail stores, although it backtracked this week and said it would leave more open that it previously expected.

From the end of February through last week — before the latest job cuts — the company had reportedly laid off 8% of its staff. Tesla has also asked employees to end their shifts early and to limit their travel.

Got tip about Tesla or other tech companies? Contact this reporter via email at twolverton@businessinsider.com, message him on Twitter @troywolv, or send him a secure message through Signal at 415.515.5594. You can also contact Business Insider securely via SecureDrop.

• Read more about Tesla:
• Dear Elon Tusk: It's time to delete your Twitter
• SEC says Elon Musk violated his settlement with the agency and asks a judge to hold him in contempt of court
• Elon Musk's tweets make it look like Tesla's revamped board is still bad at its job — and it could get the company into even more trouble
• Elon Musk criticized federal regulators on Twitter and said the $20 million fine he paid over his 'funding secured' tweet was 'worth it'

SEE ALSO: Elon Musk is telling customers to use an unusual loophole if they want to take a Tesla car for a three-day 'test drive'

Join the conversation about this story »

NOW WATCH: Amazon will pay $0 in federal taxes this year — here's how the $793 billion company gets away with it

Contributer : Tech Insider https://ift.tt/2JbraDS

Something that you might miss to see?