Rivian Slashes 600 Jobs as EV Demand Slumps – Stock Hits & Experts Sound Alarm
Rivian will cut over 600 jobs, about 4% of its workforce, in its second round of layoffs in two months as EV demand weakens. Most affected roles are in sales and service. The company cited higher costs from tariffs and the recent loss of a key federal tax credit. Rivian shares have dropped 43% this year and now trade near $13.