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Monday, Dec 5, 2022
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Rivian May Cut Several Hundred Employees: Bloomberg

Irvine-based electric vehicle maker Rivian Automotive Inc. may cut around 5% of its workforce, Bloomberg TV reported, citing people familiar with the matter.

Bloomberg TV said Rivian has around 14,000 employees, meaning 700 people could lose their jobs.

Those who may be let go are in non-manufacturing roles.

The job cuts would follow a recent surge in staffing amid expected explosive growth. Rivian has been beset by various supply chain issues that have left it struggling to meet production targets.

Shares in Rivian closed down 6.4% at $29.93 a piece for a market cap of $26.4 billion.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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