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Electric SUV maker Rivian Automotive (Nasdaq: RIVN) has cut hundreds of jobs as it seeks to achieve profitability, the company confirmed. <\/p>\n
The layoffs come just days after the automaker launched its new R2 mid-size SUVs to the public. Here\u2019s what you need to know about Rivian\u2019s layoffs and how the company\u2019s stock price has reacted.<\/p>\n
Yesterday, Rivian confirmed it was initiating another round of job cuts. The last time the EV maker initiated mass layoffs was in October, when it laid off more than 600 workers following the Trump administration\u2019s elimination of the $7,500 electric vehicle credit. <\/p>\n
At the time, the layoffs amounted to about 4.5% of its workforce.<\/p>\n
This time around, Rivian says the job cuts will affect fewer than 2% of its workforce. The latest job cuts were first reported<\/a> by the Wall Street Journal<\/em>.<\/p>\n Rivian has just over 15,200 employees at the end of 2025, so a reduction of less than 2% in its workforce equates to around 300 job losses. The cuts will primarily affect those working in the company\u2019s service and customer departments, which handle sales and marketing for Rivian.<\/p>\n According to Reuters, those being laid off<\/a> will have the option of applying for other open roles at the company.<\/p>\n Confirming the layoffs, a Rivian spokesperson issued a statement saying, \u201cWe recently restructured a handful of teams within Rivian as we work to profitably scale our business.\u201d<\/p>\n The keyword there is \u201cprofitably.\u201d <\/p>\n Though Rivian sold around 42,000 EVs last year, bringing in $5.4 billion in revenue, the company posted a $3.6 billion loss. As a matter of fact, since Rivian was founded in 2009, it has never posted a full year of profit. <\/p>\nWhy is Rivian laying off workers?<\/h2>\n