Rivian plans more layoffs ahead of R2 production in Normal

Rivian plans more layoffs ahead of R2 production in Normal

As Rivian Automotive continues plans for production of its new electric sport utility vehicle, the automaker is looking to cut about 1.5% of its global workforce.

Rivian trims workforce by 1.5% ahead of new R2 SUV

On the Dash:  Rivian is cutting less than 1.5% of its staff, mainly from its commercial team, to reduce costs ahead of the R2 launch. The company lost $1.1 billion in Q2 but says it has sufficient funds to bring the $45,000 R2 SUV to market, aiming for broader appeal than its higher-priced models. Expiring U.S. EV tax credits and regulatory changes are straining Rivian’s revenue, while other automakers like GM and Volkswagen are also scaling ba…