Rivian Cuts More Jobs With Woes Mounting for Electric Vehicle Market

A Rivian showroom in New York.

Photographer: Yuki Iwamura/Bloomberg

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By Edward Ludlow

April 18, 2024 at 5:36 AM GMT+10

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Rivian Automotive Inc. will cut an another 1% of its workforce, the second round of layoffs this year as the electric vehicle industry grapples with flagging consumer demand.

“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.”