Rivian cuts more jobs with woes mounting for electric vehicle market

Rivian Automotive Inc. will cut an another 1 percent of its workforce, the second round of layoffs this year as the electric vehicle industry grapples with flagging consumer demand.

“We continue to work to right-size the business and ensure alignment to our priorities,” the company said in an emailed statement. “This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year.”

The move comes about two months after Rivian slashed 10 percent of its salaried staff as high interest rates and economic headwinds compounded the company’s ongoing challenges with scaling production. The prior round of cuts focused on product teams and those working on its commercial EV business, while the latest move will mostly affect support and back-office workers.

Rivian had 16,790 workers as of Dec. 31, suggesting the latest cuts could amount to 150 or more jobs.

EV maker Tesla Inc. said this week it would reduce its global headcount more than 10 percent, underscoring the deep strains running through the market for plug-in vehicles. Consumer enthusiasm has waned amid high prices for many EVs and spotty charging infrastructure.


Source Article

Leave a Comment

ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT ArT