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Rivian, the electric vehicle manufacturer, has recently laid off several hundred employees as part of its efforts to improve profitability. According to a report from the Wall Street Journal, these layoffs affect less than 2% of Rivian’s workforce, which previously numbered about 15,200. The employees let go were primarily from the company’s service and customer support teams.<\/p>\n
A spokesperson for Rivian explained, “We recently restructured a handful of teams within Rivian as we work to profitably scale our business.”<\/p>\n
This announcement comes shortly after Rivian began delivering its new R2 SUV model last week. Despite generating $5.4 billion in revenue and selling approximately 42,000 vehicles last year, Rivian has yet to achieve an annual profit.<\/p>\n
Rivian is not alone in facing workforce reductions this year. Trading platform Robinhood is cutting 10% of its staff due to similar restructuring needs, and last month, Meta laid off around 8,000 employees. So far in 2023, tech companies have seen approximately 153,000 layoffs, highlighting a significant trend in the industry as companies adjust their operations.
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Rivian, the electric vehicle manufacturer, has recently laid off several hundred employees as part of its efforts to improve profitability. According to a report from the Wall Street Journal, these layoffs affect less than 2% of Rivian’s workforce, which previously numbered about 15,200. The employees let go were primarily from the company’s service and customer<\/p>\n","protected":false},"author":1,"featured_media":34895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[34],"tags":[45878,45877,45876],"class_list":["post-34894","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology","tag-electric-vehicle-company","tag-rivian","tag-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/34894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=34894"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/34894\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/34895"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=34894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=34894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=34894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}