Rivian lays off more workers [Business Insider]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: Business Insider
Over a dozen employees have begun posting about the layoffs on LinkedIn. Rivian is going through another round of layoffs. Over a dozen workers began posting on LinkedIn about cuts at the company on Wednesday afternoon. A spokesperson later confirmed the layoffs. "We continue to work to right-size the business and ensure lignment to our priorities," they told Business Insider. "As a follow-up to some of the changes we made to teams in February, today we shared some additional changes to groups supporting the business. Around 1 percent of our workforce was affected by this change. This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year." At the end of 2023, Rivian employed nearly 17,000 workers in North America and Europe. This is Rivian's fourth round of layoffs in recent years. Rivian cut 10% of its staff in February, 6% in February 2023, and another 6% in July 2022, BI previously reported In March, Rivian
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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