Rivian Cuts 600 Jobs in Latest Setback for EV Maker
Carmaker in August Cited Tariffs, Policy Changes When It Backed Away from Key Financial Goal
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Rivian Automotive Inc. is cutting about 600 jobs as the company contends with an unsteady market for electric vehicles in the U.S., according to a person familiar with the matter.
The layoffs will be focused on commercial roles across the servicing and sales departments, said the person, asking not to be identified discussing internal decisions. With about 15,000 employees as of the end of 2024, the latest pullback would account for about 4% of the staff.
Representatives for Rivian didn’t provide comment.
The move underscores the challenges for EV makers under President Donald Trump, whose policies threaten to erode already-unsteady demand in the U.S. The administration recently eliminated tax credits for EV purchases and has effectively nullified fuel economy and emissions standards, enticing companies to pivot to more profitable gasoline-powered vehicles.
Rivian in August cited tariffs and policy changes when itÌýbacked awayÌýfrom a key financial goal, saying it would break even on a gross profit basis this year after earlier predicting a modest profit. The latest round of layoffs comes after Rivian confirmed last month that itÌýcut 1.5%Ìýof its workforce.
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