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Rivian's 2024 Layoffs Hit Second Gear as Truck Maker Sheds More Workers
As EV sales sputter, the faltering company cuts 1 percent of its workforce in a second round of firings this year.
Rivian cuts 1% of workforce in second round of layoffs this year
SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Wednesday it cut about 1% of its workforce - the second round of job cut this year - as it reduces cost amid a broader slowdown in EV demand.
Rivian Layoffs Grow
D eeply troubled EV company Rivian, which is almost certainly too small to survive the current downtrend in EV sales, has set another round of layoffs. Shares are down 53% this year, compared to Tesla’s drop of 36% in the same time frame.
Rivian cuts more jobs as it looks to trim expenses
Electric vehicle upstart Rivian, which recently put on pause plans to build a Georgia factory, said this week it is laying off more workers as it cuts costs to buttress its balance sheet.
Rivian (RIVN) is cutting another 1% of jobs as the EV maker works toward profitability
Rivian (RIVN) is cutting more jobs as the EV maker aims to improve profitability. This is the second round of layoffs this year, but it’s only 1% of the workforce this time.
Rivian lays off more workers
Rivian said the latest round of cuts affect about 1% of its workforce.
Rivian Lays Off More Workers As Stock Prices Tank
Latest wave of redundancies is the the EV-maker’s response to sluggish demand for electric cars in North America
Rivian trims another 1% of workforce in latest layoff round
In its second round of layoffs in 2024, EV maker Rivian (RIVN) plans to cut another 1% of its workforce. Market Domination Co-Hosts Julie Hyman and Josh Lipton discuss the significance of this on Rivian's position in the electric vehicle market.
Rivian Automotive Inc. lays off more workers
Rivian Automotive inc. laid-off about 1% of its workforce April 17. The layoffs come after the company laid off 10% of its salaried employees in February. A Rivian spokesperson told Atlanta Business Chronicle the layoffs in February impacted primarily the product team and commercial business, while the latest cuts affected business support staff.
Rivian announces more layoffs
Rivian announces more layoffs
cbtnews
19h
Rivian announces second round of layoffs to boost profitability
Rivian is planning to reduce employment by a further 1% by the end of the year in an effort to increase profitability.
Crain's Chicago Business
20h
Rivian cuts more jobs with woes mounting for electric vehicle market
Rivian Automotive will cut an another 1% of its workforce, the second round of layoffs this year as the electric vehicle ...
EconoTimes
1d
Rivian Expands Layoffs With Additional 1% of Jobs Amid Growing EV Market Woes
Rivian Automotive, Inc. announced a new round of layoffs, and an additional one percent of its workforce is set to be ...
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