Electric truck maker Nikola to lay off 270 employees

US-based electric truck maker Nikola on Friday announced it'd lay off 270 employees as part of its efforts to reduce expenses and streamline operations. Of the total employees impacted, 150 were supporting Nikola's European operations and 120 were based at its Phoenix and Coolidge sites. Nikola's personnel-related cash spend will decrease by over $50 million annually due to the move.