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Share Name Share Symbol Market Type
Rivian Automotive Inc NASDAQ:RIVN NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.23 -0.63% 36.53 36.50 36.75 6,158 10:42:55

Rivian Automotive Planning Hundreds of Layoffs, Bloomberg Reports

11/07/2022 9:42pm

Dow Jones News


Rivian Automotive (NASDAQ:RIVN)
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By Denny Jacob

 

--Rivian Automotive Inc. is planning hundreds of layoffs to lower its workforce in areas where the company has grown too quickly, Bloomberg reported, citing people familiar with the matter.

--The cuts, which could be announced in the coming weeks, will focus on non-manufacturing roles, including teams with duplicate functions, the report said.

--Rivian could target an overall reduction of around 5%, though layoffs are still in the planning stage and nothing has been decided, Bloomberg reported.

--Rivian didn't immediately respond to a request for comment from Dow Jones Newswires.

Full story at https://www.bloomberg.com/news/articles/2022-07-11/rivian-plans-hundreds-of-job-cuts-following-surge-in-staffing?srnd=premium&sref=b0us4KbN

 

Write to Denny Jacob at denny.jacob@wsj.com

 

(END) Dow Jones Newswires

July 11, 2022 16:27 ET (20:27 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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