Rivian Laying Off 6% Of Its Workforce In Effort To Streamline Future Growth | Carscoops carscoops
. Thankfully for those who are a part of manufacturing operations in Normal, they are not a part of the cuts.
“Over the last six months, the world has dramatically changed with inflation reaching record highs, interest rates rapidly rising and commodity prices continuing to climb — all of which have contributed to the global capital markets tightening,” Scaringe said in a memo to the Rivian team addressing the layoffs.
As it sits now, demand for its products remains high but like many other manufacturers, Rivian is simply struggling to build enough vehicles to meet that demand. The EV brand will announce its Q2 results on August 12th so we’ll get a better picture of its current condition as a business then.
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