Electric carmaker Rivian said on Wednesday that it will be cutting 10% of its salaried workforce as it deals with slowing EV demand.The company made the announcement in its 2023 fourth quarter earnings call on Wednesday.The Q4 financial report also revealed that despite making and delivering twice as many EVs in 2023 as in 2022, the company still saw a $5.4 billion loss for the year.And for 2024, Rivian expects to produce around the same number of vehicles — about 57,000 — as it did in 2023.
'In his email to staff on Wednesday, the CEO told workers they would be notified of layoffs via a calendar invitation on Thursday morning.'We know the timing here is difficult — waiting between now and tomorrow to understand whether you're impacted is far from ideal, but we want to ensure a considerate notification process that accommodates all time zones,' Scaringe wrote.
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