Reported about 9 hours ago
Rivian recently laid off about 140 employees to enhance operational efficiency as it prepares to launch its critical R2 model, which is vital for boosting sales and entering global markets. While job cuts often signal distress in young companies, this move represents only 1% of Rivian's workforce and reflects ongoing efforts to cut costs. The automaker faces increased risks with declining deliveries, needing a strong second half in 2025 to meet its sales targets, underscoring the importance of the R2's success for its future profitability.
Source: YAHOO