The electric car manufacturer is laying off another six percent of its workforce. The company reduced its workforce by the same proportion of employees. The carmaker has around 14,000 employees so this time around 840 people will be laid off.
As with the previous round of layoffs, Rivian is focusing resources on increasing production and becoming a profitable company and have given everything to help us fulfill our mission,” CEO RJ Scaringe wrote in an email to employees Company shared a copy of the memo with Engadget.
As part of its quest for profitability, Rivian is attempting to increase production of its R1T and R1S vehicles and vans. Supply chain issues forced the company to cut its 2022 production target. Reuters notes that Rivian fell just short of last year’s target.
“Continuing to improve our operational efficiencies on our journey to profitability is a core objective and requires that we focus our investments and resources on the highest impact parts of our business,” Scaringe wrote. “The changes we’re announcing today reflect that focused roadmap.”
We’ll have a clearer picture of Rivian’s business when it reports quarterly earnings on February 28th. The company announced its recent layoffs shortly thereafter and reduced the prices of its electric vehicles, making it harder for newer players like Rivian to compete. Earlier this week, EV startup Arrival said it would.
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