The company is focusing resources on ramping up vehicle production and reaching profitability, Chief Executive R.J. Scaringe said in an email to employees on Wednesday announcing the job cuts. Reuters obtained a copy of the email. Layoffs at Rivian come amid falling EV prices kicked off by cuts made recently by Elon Musk-led Tesla\n \n and Ford Motor Co.
“We think that is what’s behind this decision.” Rivian is focusing on ramping up production of its R1 trucks and EDV delivery vans for top shareholder Amazon.com and launching its R2 platform, he said. “The changes we are announcing today reflect this focused roadmap.” Irvine, California-based Rivian, which has about 14,000 employees, will let go of about 840 staff in a move that will not affect manufacturing operations at its plant in Normal, Illinois.
155_sherly Who?
But but but but the economy is amazing and Biden has done all the best for us
Lol nice
Gonna be tough. They already lost $ on every vehicle they shipped. Ramping production is the toughest and most capital extensive part. Hope they survive.
Quick get a job here
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US court rejects J&J bankruptcy strategy for tens of thousands of talc lawsuits | CNN BusinessJohnson & Johnson’s strategy to use bankruptcy to resolve the multibillion-dollar litigation over claims its talc products cause cancer was rejected by a federal appeals court on Monday, but the healthcare conglomerate said it would challenge the ruling. Will they do the same with their vaccines? I love this baby powder 🥰 SIfill_ 2 tiered system ftw
Source: CNN - 🏆 4. / 95 Read more »
Prosecutors say Sam Bankman-Fried tried to obscure his crimes with Robinhood's stock | CNN BusinessUS federal prosecutors have said FTX founder Sam Bankman-Fried’s efforts to control about $500 million worth of Robinhood shares last year indicates steps the former crypto entrepreneur has taken to “obscure” his alleged crimes Is this why robinhood froze out on the GME? Biblioteca Tramonte in Palermo
Source: cnni - 🏆 326. / 59 Read more »
Bill Gates says he shouldn't have had dinners with Jeffrey Epstein | CNN BusinessMicrosoft founder Bill Gates said he 'shouldn't have had dinners' with Jeffrey Epstein during an interview with Australia's ABC 7 .30. What he means is that he shouldn't have wasted time on dinner and just got to the 'festivities'. “Dinners” is that what BillGates calls young girls who are being sex trafficked? 😂😂😂😂😂😂😂 anything else you not saying
Source: cnni - 🏆 326. / 59 Read more »
Nearly 1,000 flights already canceled Tuesday as winter storm rolls through the US | CNN BusinessNearly 1,000 flights were canceled across the United States Tuesday, according to FlightAware, as extreme winter weather affects parts of the country. Wuuuuuu.....that's better Hello While these days people of Khoi spend days in hardship waiting for help due to the devastating earthquake in unbearable cold weather, the Islamic government attacks the victims instead of helping theme . This is officially a crime.
Source: CNN - 🏆 4. / 95 Read more »
French workers bring Paris to a standstill in second mass strike over pension reforms | CNN BusinessFrench schools and transportation networks were heavily disrupted Tuesday for the second time this month, as unions staged another mass strike against government plans to raise the retirement age for most workers. Hey, you elected a government that allowed uncontrolled migration, benefits for those migrants, now wonder why they dont want to pay you any more? And this is Denmark, you know the happiest people on earth. (or the weakest) The french know how to do it!
Source: cnni - 🏆 326. / 59 Read more »
Samsung profits sink to 8-year low as smartphone and PC demand drops | CNN BusinessSamsung's quarterly profits have plunged to their lowest level in eight years as customers snapped up fewer cell phones and laptops. 👍🏻 TVs are great. Do not buy an appliance. I pay a lot of money to comcast because I have , which I wanted. So please then, CNN. Please help me understand why I must come to Friken TWITTER to get the news? Now, it's the TyreeNichols case literally nonstop. No other news in the world, just that one story 24/7.
Source: cnni - 🏆 326. / 59 Read more »