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Rivian is laying off 6 percent of its employees — again
Photo by Nilay Patel / The Verge
Another day, another company announces it’s laying off 6 percent of employees. Today, that company is Rivian, the EV automaker that had one of the biggest IPOs of 2021 but has since struggled to hit its targets as manufacturing and supply chain problems mount.
The layoffs also come amid a looming EV price war, in which Tesla and Ford have lowered prices on their flagships vehicles. Other automakers have said they are not ready to slash prices on their own EVs, but analysts predict that more companies will follow. Rivian currently sells three models: the R1T truck and the R1S SUV, as well as the EDV, which stands for electric delivery van.
According to Reuters, the layoffs are expected to effect 840 employees at the Irvine,…
