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Rivian Layoffs 2025: Rivian Automotive is preparing to lay off more than 600 employees as it faces increasing challenges in the electric vehicle market, according to a report from The Wall Street Journal.
The job cuts will impact roughly 4% of the company’s workforce. Rivian, which had just under 15,000 employees at the end of last year, is reportedly making the move to reduce costs and improve efficiency as competition in the EV sector intensifies.
A source familiar with the matter told CNBC that Rivian’s planned layoffs will be announced to employees on Thursday, with more information expected to follow.
The company, along with other electric vehicle makers, is contending with a more difficult market environment.
Recent policy changes under the Trump administration, including the removal of the $7,500 federal tax credit for EV buyers, have added pressure to the already competitive industry.
Beyond regulatory hurdles, Rivian is dealing with weaker-than-expected demand for electric vehicles and has no major product launches planned until next year.
The company is also under pressure to manage its cash reserves after reporting a $1.1 billion loss in the second quarter.
In the third quarter, Rivian delivered 13,201 vehicles — a 32% increase from the same period a year earlier — as many customers rushed to buy electric models before federal incentives ended in September.
Despite the sales bump, the company trimmed its 2025 delivery forecast from a potential 46,000 units to between 41,500 and 43,500.
In August, Rivian revised its forecast for adjusted core losses, now expecting them to total between $2 billion and $2.25 billion. This marks an increase from the earlier projection of $1.7 billion to $1.9 billion.
On Thursday morning, Rivian’s stock remained steady in trading. So far this year, the share price has fallen roughly 3%.
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