Tesla, Inc. TSLA has developed proprietary software to track job applicants, which could help the company cut down on its hiring costs, the Information reported, citing current and former employees involved in hiring.
The move is part of Musk’s efforts to reduce reliance on external software vendors, the report said. This is a rare move by Tesla, given most companies, with the exception of big techs, use pay-for-use software developed by companies such as Oracle Corporation ORCL and SAP SE SAP, it added.
Related Link: Why This Analyst Thinks Tesla Is The Most 'American' Electric Vehicle Company
Tesla said in its latest Impact Report that it received three million job applications in 2021. The EV maker employed 99,290 people worldwide in 2021, according to data provided by the company in its latest 10-K filing.
The company has also recently eliminated jobs. CEO Elon Musk said in an internal email to employees in early June that he wants to cut 10% of the workforce, blaming the proposed action on the economy. By June end, the company shut down its Santa Mateo, California office and let go 200 of its Autopilot staff.
Price Action: Tesla closed Tuesday’s session 1.11% higher at $901.76, according to Benzinga Pro data.
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