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.

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.

Rivian Cuts Jobs for Fourth Time in Under Two Years

US electric vehicle maker Rivian started on Thursday another round of job cuts. The move marks the fourth staff reduction in less than two years as the company seeks to slowdown its cash burn rate ahead of its major product launch scheduled for the first half of 2026. The latest reductions, effective Thursday across both the US and Canada teams, affect “less than 1.5%” of Rivian’s total workforce. The company founded and led by RJ Scaringe also …