Rivian lays off 6% of its workforce as cost-cutting measure

Feb. 7, 2023
Chief Executive R.J. Scaringe broke the news to employees in an email and said the company would put its focus on “ramping up vehicle production and reaching profitability.”

In a cost-cutting effort, the electric vehicle manufacturer Rivian Automotive will be laying off 6% of its workforce. According to Reuters, Chief Executive R.J. Scaringe broke the news to employees in an email and said the company would put its focus on “ramping up vehicle production and reaching profitability.”

CNBC is reporting that recent price cuts seen in the EV space, including Ford and Tesla, may force other manufactures to slash their prices as well and look toward extreme cost-saving measures.

According to Bloomberg, Rivian’s workforce consisted of about 14,000 employees worldwide prior to the cuts, which cost 800 employees their jobs.

Sponsored Recommendations

Arc Flash Prevention: What You Need to Know

March 28, 2024
Download to learn: how an arc flash forms and common causes, safety recommendations to help prevent arc flash exposure (including the use of lockout tagout and energy isolating...

Reduce engineering time by 50%

March 28, 2024
Learn how smart value chain applications are made possible by moving from manually-intensive CAD-based drafting packages to modern CAE software.

Filter Monitoring with Rittal's Blue e Air Conditioner

March 28, 2024
Steve Sullivan, Training Supervisor for Rittal North America, provides an overview of the filter monitoring capabilities of the Blue e line of industrial air conditioners.

Limitations of MERV Ratings for Dust Collector Filters

Feb. 23, 2024
It can be complicated and confusing to select the safest and most efficient dust collector filters for your facility. For the HVAC industry, MERV ratings are king. But MERV ratings...