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Rivian Continues To Lay Off Workers Despite Recent Layoffs

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(CTN News) – The layoffs at Rivian are expected to continue for some time to come.

It was reported on Wednesday afternoon that over a dozen workers had posted on LinkedIn about cuts at their companies. There was later confirmation from a spokesperson that layoffs were taking place.

Business Insider reported that the company continues to work on right-sizing the business and making sure that our priorities are aligned with its operations. In addition to some changes made in February to teams, today we shared some additional changes to groups supporting the business as a follow-up to those changes.

We were able to affect around 1 percent of our workforce as a result of this change. As difficult as it is to make this decision, it is also necessary to support our goal of becoming gross margin positive by year’s end.”

At the end of 2023, Rivian will have almost 17,000 employees in North America and Europe, making it one of the largest companies in the world.

This is Rivian’s fourth round of layoffs in the last few years, making it the fifth round in total. There was a 10% reduction in the Rivian staff in February, a 6% reduction in February 2023, and a further 6% cut in July 2022, according to BI previously.

As of March 1st, Rivian upped its plans to open a factory in Georgia, but instead chose to build its recently announced R2 vehicle at its existing factory in Illinois rather than start a new facility in Georgia.

There are several electric-car makers, including Rivian, that are struggling as a result of a slowing demand for electric vehicles. This week, Elon Musk alerted Tesla’s staff that the company will cut more than 10% of its workforce as a result of structural changes.


Source: GM Plans To Move Headquarters From Detroit To Another Building

Salman Ahmad is a seasoned writer for CTN News, bringing a wealth of experience and expertise to the platform. With a knack for concise yet impactful storytelling, he crafts articles that captivate readers and provide valuable insights. Ahmad's writing style strikes a balance between casual and professional, making complex topics accessible without compromising depth.

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