Stock Groups

Nikola responds to hiring freeze report, says supply-chain department intact -Breaking


© Reuters. FILE PHOTO – U.S. Nikola’s logo was displayed at the event to showcase CNH’s full-electric and hydrogen fuel-cell batteries trucks. It took place in Turin (Italy) on December 3, 2019. REUTERS/Massimo Pinca

(Reuters) –Nikola Corp’s Supply-chain Department is in “intact” according to the maker of electric trucks. This was in response to a claim that it had put a halt to hiring due to executive departures.

According to a company statement, “The Supply Chain Department has been deliberately strengthened with new and established leadership.”

“Nikola is now focusing on bringing its first BEVs/FCEVs to market, and it continues to recruit strategically for key roles.”

Electrek reported that almost all of the supply-chain leaders had been lost by the company in the past few months. They had also placed a freeze on hiring.

According to the report, Matthew Jenkins was the director of supply chains and purchasing. Mike Chaffins is the global head for supply chain. Mike Gallagher is the director of purchasing.

Reuters confirmed the departures of the executive by looking at their LinkedIn profiles.

Nikola delivered its first truck batch in December. Now, Nikola is being accused of exaggerating the power of both its hydrogen- and electric-powered trucks.

Trevor Milton (founder and former chief executive officer) was indicted last year on charges of lying to investors regarding Nikola’s technology and products.

To settle these charges, the U.S Securities and Exchange Commission will fine the company $125 Million.

Nikola shares lost 35.3% in 2021. They were up 2.8% by Tuesday.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages caused by reliance upon the data contained in this site. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.