Rivian Layoffs
February 2024
Rivian announced a layoff affecting 0 employees (10% of its workforce) in February 2024. The company operates in the Transportation sector.
0
10%
Feb 21, 2024
About
Rivian, an American electric vehicle manufacturer, announced layoffs affecting 10% of its salaried workforce on February 21, 2024, as part of a broader cost-cutting effort amid mounting pricing pressure in the EV market. This marks the company's third major workforce reduction since 2022. While Rivian more than doubled its vehicle production in 2023, it reported a significant annual loss exceeding $5.4 billion. To streamline operations and focus on future growth, including the launch of its more affordable R2 model, the company is implementing a cost transformation program that includes these layoffs, manufacturing upgrades, and design changes.
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