EV maker Rivian Automotive (NASDAQ:RIVN) is reportedly cutting another 1% of its workforce, just days after larger rival Tesla announced massive layoffs.
What Happened: While Rivian’s previous cut in February impacted product teams and those working on the company’s commercial EVs, the latest round of workforce slashing will most likely impact its support and back-office workers, Bloomberg reported, citing an emailed company statement.
"We continue to work to right-size the business and ensure alignment to our priorities. This was a difficult decision, but a necessary one to support our goal to ...