Rivian layoffs: Electric SUV maker slashes hundreds of jobs in bid for profitability after R2 launch (opens in new tab)

Electric SUV maker Rivian Automotive (Nasdaq: RIVN) has cut hundreds of jobs as it seeks to achieve profitability, the company confirmed. The layoffs come just days after the automaker launched its new R2 mid-size SUVs to the public. Here’s what you need to know about Rivian’s layoffs and how the company’s stock price has reacted. What’s happened? Yesterday, Rivian confirmed it was initiating another round of job cuts. The last time the EV maker initiated mass layoffs was in October, when it ...