Rivian cuts just under 2% of employees after R2 launch
Rivian is letting go of hundreds of employees, just under 2% of its team, right after rolling out its new R2 SUV.
The cuts hit service and customer teams, which include sales and marketing, marking at least the company's fourth round of layoffs since the beginning of 2024.
The timing is tough, coming only a week after the much-hyped SUV deliveries began.
Rivian cites efficiency, delays profit target
Rivian says these layoffs are all about boosting efficiency and keeping growth sustainable:
Rivian says, "We recently restructured a handful of teams within Rivian as we work to profitably scale our business."
Still, the road ahead isn't easy: Rivian had been looking to turn its first profit in 2027, but pushed that goal back in March because of spending on autonomous vehicle technology.
Even with Uber planning to invest up to $1.25 billion for future robotaxis, Rivian's autonomous features aren't fully there yet.