Rivian Laying Off 6% Of Its Workforce In Effort To Streamline Future Growth | Carscoops carscoops
. Thankfully for those who are a part of manufacturing operations in Normal, they are not a part of the cuts.
“Over the last six months, the world has dramatically changed with inflation reaching record highs, interest rates rapidly rising and commodity prices continuing to climb — all of which have contributed to the global capital markets tightening,” Scaringe said in a memo to the Rivian team addressing the layoffs.
As it sits now, demand for its products remains high but like many other manufacturers, Rivian is simply struggling to build enough vehicles to meet that demand. The EV brand will announce its Q2 results on August 12th so we’ll get a better picture of its current condition as a business then.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rivian lays off 6% of workforce, including 50 jobs at EV plant in NormalThe electric truck manufacturer cut about 840 nonmanufacturing jobs out of 14,000 positions companywide.
Read more »
Rivian lays off 6 percent of its workforce as it struggles with EV production | EngadgetAs expected, electric pickup manufacturer Rivian is laying off 6 percent of its 14,000-strong workforce in an effort to boost production..
Read more »
Rivian Cuts 6 Percent Of Workforce, Factory Employees ExceptedLaid off employees will receive 14 weeks of pay, health care through the end of the year, their next quarterly equity vesting and job placement assistance.
Read more »
Watch Walmart Employee “Maneuver” Shopping Carts Into Rivian R1TThe owner of the damaged Rivian R1T says he will use the footage to have the retail giant pay for the repairs.
Read more »
Rivian announces employee layoffs; CEO cities inflation as reason for reductionsRivian Automotive announced company layoffs that will affect about 6% of the company's workforce.
Read more »
2022 Ford F-150 Lightning vs. Rivian R1T: The Closest Finish in MT HistoryThe most comprehensive comparison you’ll ever read between the Ford F-150 Lightning and Rivian R1T electric pickup trucks.
Read more »