Rivian Is Cutting Jobs Right After Launching the R2. Is the Profitability Story Getting Stronger or Weaker?
The electric vehicle maker trimmed staff one week after it began delivering the most important vehicle in its history.
Overview
Rivian Automotive (NASDAQ: RIVN) has spent years getting investors excited about its cheaper vehicle. That vehicle, the R2 SUV, finally started reaching customers this month. One week later, the company cut jobs.
The layoffs hit less than 2% of Rivian's workforce, landing on the sales and marketing side of the business rather than the factory floor.
Details
"We recently restructured a handful of teams within Rivian as we work to profitably scale our business," the company said in a statement.
Source
Originally published at www.fool.com.
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