Rivian Cuts More Jobs With Woes Mounting for Electric Vehicle Market [BNN Bloomberg (Canada)]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: BNN Bloomberg
“We continue to work to right-size the business and ensure alignment to our priorities,” the company said in an emailed statement. “This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year.” The move comes about two months after Rivian slashed 10% of its salaried staff as high interest rates and economic headwinds compounded the company's ongoing challenges with scaling production. The prior round of cuts focused on product teams and those working on its commercial EV business, while the latest move will mostly affect support and back-office workers. Rivian had 16,790 workers as of Dec. 31, suggesting the latest cuts could amount to 150 or more jobs. EV market leader Tesla Inc. said this week it would reduce its global headcount by more than 10%, underscoring the deep strains running through the market for plug-in vehicles. Consumer enthusiasm has waned amid high prices for many EVs and spotty charging infrastruct
Show less
Read more
Impact Snapshot
Event Time:
RIVN
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
RIVN alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
RIVN alerts
High impacting Rivian Automotive, Inc. news events
Weekly update
A roundup of the hottest topics
RIVN
News
- Rivian Automotive, Inc. Sued for Securities Law Violations - Investors Should Contact Levi & Korsinsky Before June 18, 2024 to Discuss Your Rights - RIVNAccesswire
- DEADLINE ACTION NOTICE: The Schall Law Firm Encourages Investors in Rivian Automotive, Inc. with Losses to Contact the FirmAccesswire
- 6 Electric Cars the Middle Class Can't Afford in 2024 [Yahoo! Finance Canada]Yahoo! Finance Canada
- Electric grid wars are a direct assault on the Western middle class [Yahoo! Finance]Yahoo! Finance
- DEADLINE ACTION NOTICE: The Schall Law Firm Encourages Investors in Rivian Automotive, Inc. with Losses to Contact the FirmAccesswire
RIVN
Earnings
- 2/21/24 - Beat
RIVN
Sec Filings
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form DEF
- RIVN's page on the SEC website