TransportationUS

Rivian Layoffs

May 2024

Rivian announced a layoff affecting 150 employees (1% of its workforce) in May 2024. The company operates in the Transportation sector.

People Affected

150

Percentage

Announced Date

May 3, 2024

About

Rivian, the Irvine-based electric vehicle manufacturer, announced approximately 150 job cuts on May 3, 2024, marking its second round of layoffs this year. This reduction, impacting mostly support and back-office roles, is attributed to challenging market conditions, including high interest rates and lower consumer demand. The move follows earlier cuts focused on product and commercial vehicle teams. Despite these workforce adjustments, the company is simultaneously expanding its operations in Illinois with significant state incentives. Rivian, a major player in the competitive automotive industry, continues to navigate the evolving EV market landscape.