Thursday, July 28, 2022

Rivian Cuts 6 Percent Of Workforce

Electric vehicle maker Rivian has cut six percent of its workforce, according to a report from the WSJ on Wednesday, citing inflation and a rapidly changing economy. The company had 14,000 workers, including a significant number in Orange County, before the layoffs. The WSJ cited an email from Rivian CEO RJ Scaringe, which pointed at "inflation reaching record highs, interest rates rapidly rising and commodity prices continuing to climb" as reasons for the layoffs.