Electric truck maker Rivian to lay off 6% of its workforce as EV price war concerns grow
Rivian's CEO told employees that the company will lay off 6% of its workforce as it works to conserve cash.Rivian said the cuts will not affect workers at its Illinois factory.Workers inspect a Rivian R1T electric vehicle pickup truck on the assembly line at the company's manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022.said it is laying off 6% of its workforce in a bid to conserve cash as it braces for a possible industry-wide price war.
In an email to employees that was seen by CNBC, CEO RJ Scaringe said improving the company's operating efficiency must be a "core objective." The company is focusing on ramping up production of its R1 trucks and the EDV delivery vans it builds for
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