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Rivian to cut another 6% of its workforce



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Rivian, the buzzy EV automaker that had one of the biggest IPOs in 2021, is cutting 6% of its workforce for the second time in less than a year, according to an internal memo sent to employees today by founder and CEO RJ Scaringe.
Reuters was the first to report about the cuts. TechCrunch has also viewed the leaked memo. A Rivian spokesperson confirmed the layoffs.
The memo comes six months since Rivian initiated its first layoffs. In July, Rivian cut 6% of its roughly 14,000-person workforce as the company attempted to get ahead of macroeconomic headwinds caused by rising inflation, interest rates and commodity prices.
Manufacturing jobs at the company’s Normal, Illinois factory will not be impacted, according to memo sent Wednesday. The cuts are aimed at lowering Rivian’s operational costs amid a weakening economy and pricing pressure from Tesla and other automakers.
“To deliver over the long-term, we must focus our resourc …

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