Connect with us

Hi, what are you looking for?

Brilliant AchievementBrilliant Achievement

Tech News

Rivian says it is laying off 10 percent of its workforce as EV woes deepen

Rivian R1T truck
Photo by Mitchell Clark / The Verge

Rivian said it was laying off 10 percent of its workforce as concerns about slower electric vehicle sales continue to reverberate across the industry.

The company made the announcement as part of its fourth quarter earnings report, in which it said it likely wouldn’t make any more vehicles this year than it did in 2023. The company said it made 57,232 vehicles in 2023, of which 50,122 were delivered to customers. Rivian’s stock price fell on the news.

Rivian has gone through several rounds of layoffs in its short history. The company let go 6 percent of its workforce both in July 2022 and May 2023. This current round of layoffs is expected to affect over a thousand workers at the Irvine, California-based company, which has a combined…

Continue reading…

Join The Exclusive Subscription Today And Get Premium Articles For Free
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like


In his important book The Failure of American Conservatism (2023), the political theorist and philosopher Claes G. Ryn offers some criticisms of libertarianism and...

Editor's Pick

Colin Grabow The George II is a case study in Jones Act dysfunction. Delivered in December 1980 by a now‐​defunct Louisiana shipyard, the forty‐​three‐​year‐​old containership—long in...

Editor's Pick

After a long weekend, the market action on January 16th held some surprises. The Bullish Trends, or gainers, were the dollar and — here...

Tech News

Photo by Vjeran Pavic / The Verge Apple is officially axing support for progressive web apps for iPhone users located in the European Union....