Wednesday, July 24, 2024

Rivian Announces Further Layoffs for Salaried Positions

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Rivian has disclosed plans for additional layoffs affecting a small number of salaried roles within the company. This announcement follows earlier layoffs earlier this year.

According to Rivian spokeswoman Kelli Felker, the company is focusing on improving efficiency, particularly after enhancing manufacturing efficiency in April, allowing the same vehicle output as in 2023 but on two shifts instead of three. Felker stated, “As we continue improving efficiency across the company, we are eliminating a small number of salaried positions.”

See also: Rivian Unveils 2025 R1T Pickup and R1S SUV Refresh with Up to 420 Miles of EPA Range

Credit: Rivian

The layoffs are exclusive to salaried roles and will not impact hourly workers. In a bid to maximize impact and increase cost efficiency, Rivian had previously laid off approximately 10 percent of its salaried workers in January and announced a 1 percent workforce reduction in April.

During its Q1 earnings call, Rivian reported an EBITDA-adjusted loss of $798 million, with a per-vehicle loss of $38,784. Despite these challenges, the company reiterated its production guidance of 57,000 vehicles from its Illinois factory.

See also: Rivian CEO Expects Stronger EV Growth with New Models Despite Slowdown

Credit: Rivian

Rivian’s recent launch of the R1T pickup and R1S SUV, along with the unveiling of the R2 and R3 platforms earlier this year, highlights the company’s commitment to innovation and future growth in the EV market.

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