Rivian Automotive to Reduce Workforce by Another 1%, Following 10% Cut in February-February 2024-www.financetom.com

Rivian Automotive to Reduce Workforce by Another 1%, Following 10% Cut in February

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Rivian Automotive to Reduce Workforce by Another 1%, Following 10% Cut in February

Apr 18, 2024 5:39 AM

08:01 AM EDT, 04/18/2024 (MT Newswires) -- Rivian Automotive ( RIVN ) said late Wednesday it is reducing its workforce by 1%, according to media reports.

"This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year," the company said in an emailed statement to Reuters.

The layoffs follow the electric vehicle maker's announcement in February that it is reducing its salaried workforce by approximately 10%.

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

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