Rivian Lays Off Workers Ahead Of R2 SUV Launch: Report - Rivian Automotive (NASDAQ:RIVN)

Rivian Shaken by Unexpected Layoffs

It was in big headline letters in The Wall Street Journal: “Rivian Lays Off Workers as It Preps Launch of Cheaper SUV.” It was just the latest in a turntable of bad news from the battered electric vehicle (EV) maker. Wall Street’s sentiment about Rivian Automotive Inc. (NASDAQ: RIVN) shows up in its stock price, which is down 90% in the past five years. The S&P 500 has gained 38% in that time. Rivian is so small that its tiny share of the EV bus…

Rivian makes its second small workforce cut of the year ahead of R2 SUV launch

The company previously laid off around 140 workers in its manufacturing division in June.

Rivian lays off workers as it readies its cheaper SUV and braces for the end of the EV tax credit

Rivian shares are down more than 5% on Thursday....

Rivian Lays Off Workers Ahead Of R2 SUV Launch: Report - Rivian Automotive (NASDAQ:RIVN)

Rivian shares are dropping Thursday afternoon. The decline follows a Wall Street Journal report that the company is cutting less than 1.5% of its workforce.

Rivian Automotive Reduces Commercial Employees - Orange County Business Journal

Rivian Automotive Inc. is laying off employees from its commercial division ahead of the new R2 vehicle launch next year, a Rivian spokesperson confirmed.  “We have made some recent changes to the commercial team as part of an ongoing effort to improve operational efficiency for R2,” the spokesperson said.  The recent cuts to its sales and service team, across several locations, make up less than 1.5% of its total workforce. Rivian has at least …

BLK ALERTS - Rivian makes its second small workforce cut of the year ahead of R2 SUV launch

The company previously laid off around 140 workers in its manufacturing division in June.