03:30 PM EDT, 09/04/2025 (MT Newswires) -- Rivian Automotive ( RIVN ) is shedding less than 1.5% of its workforce to cut costs ahead of the launch of a cheaper sport utility vehicle next year, the Wall Street Journal said Thursday, citing a company spokesperson.

"We have made some recent changes to the commercial team as part of an ongoing effort to improve operational efficiency," the spokesperson said, according to the report.

The company had about 15,000 employees at the end of 2024, the report said.

Rivian did not immediately respond to a request for comment from MT Newswires.

Shares of the company fell 6.1% in recent Thursday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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