Rivian lays off hundreds, under 2% of staff, a week after R2 launch

Rivian laid off hundreds of employees on Tuesday, representing less than 2% of its total workforce. These reductions primarily impacted the company's service and customer-facing teams, including sales and marketing departments. The layoffs occurred just one week after Rivian commenced deliveries of its R2 SUV, a model considered crucial for the company's future. Rivian has not yet achieved profitability since its inception. The company stated that these workforce adjustments are part of its ongoing efforts to streamline operations and improve its financial standing. This move follows a period of significant product launches and strategic planning aimed at securing the company's long-term viability in the competitive electric vehicle market.