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Rivian says it is laying off 10 percent of its workforce as EV woes deepen
Rivian said its production would stay flat in 2024.
This current round of layoffs is expected to affect over a thousand workers at the Irvine, California-based company, which has a combined workforce of 16,700 salaried and hourly employees. “Our business is facing a challenging macroeconomic environment—including historically high interest rates and geopolitical uncertainty—and we need to make purposeful changes now to ensure our promising future,” Rivian CEO RJ Scaringe said in an email to employees. The company cited “[e]conomic and geopolitical uncertainties and pressures, most notably the impact of historically high interest rates” as its reasoning for the flat production outlook.
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