NKLA - Nikola cuts staff at Romeo Power post-acquisition - Business Insider

Nikola ( NASDAQ: NKLA ) is cutting costs by trimming staff as it restructures Romeo Power, according to Business Insider.

The outlet reported on Friday that the electric-truck manufacturer has let go of 15% of Romeo Power's overall workforce. That percentage accounts for 45 employees, according to the reporting .

Nikola acquired the battery company in an all-stock deal in August , citing vertical integration benefits and domestic battery pack manufacture as the impetus for the move. Nikola management added that the takeover should shore up the company’s supply chain.

Shares of Nikola Motors ( NKLA ) traded essentially flat in premarket hours on Friday.

Read more on the implications of the Inflation Reduction Act for Nikola .

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