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EV-maker Rivian cuts hundreds of jobs after launching new SUV
Fox Business • • business
Key Points:
- Rivian is laying off less than 2% of its workforce, mainly in its service and customer organization, as part of a team restructuring to scale the business profitably.
- The layoffs affect hundreds of employees, who are encouraged to apply for other open roles within the company.
- This move follows previous rounds of layoffs, including a 4.5% workforce reduction in October due to softer vehicle demand after EV tax credits expired.
- Rivian recently debuted its R2 SUV, with plans for more affordable versions aimed at broadening demand and improving sales as the company pushes toward profitability.
- The company has lowered its 2027 adjusted core profit expectations as it increases R&D spending to advance its autonomous driving technology.
