Saturday, October 1 2022

Tesla, Inc. TSLA has developed proprietary software to track job applicants, which could help the company reduce hiring costs, Information reportedciting current and former employees involved in the hiring.

The move is part of Musk’s efforts to reduce reliance on external software vendors, according to the report. This is a rare move on Tesla’s part, given that most companies, with the exception of big tech, use paid software developed by companies such as Oracle Corporation ORCL and SAP SE SAPhe added.

Related Link: Why This Analyst Thinks Tesla Is The Most “American” EV Company

Tesla said in its latest impact report that it received three million applications in 2021. The electric vehicle maker employed 99,290 people worldwide in 2021, according to data provided by the company in its latest File 10 -K.

The company also recently cut jobs. CEO Elon Musk said in an internal email to employees in early June that he wanted to cut 10% of the workforce, blaming the proposed action on the economy. At the end of June, the company closed its Santa Mateo, Calif., office and laid off 200 of its Autopilot staff.

Price action: Tesla closed Tuesday’s session up 1.11% at $901.76, according to Benzinga Pro data.

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