Rivian to lay off 600 amid cooling EV market, pushes R2
rivian.com
Rivian will cut 600+ jobs (4%) to rein in costs as the EV market cools. Upgrading its Illinois plant and readying lower-priced R2 to move toward profitability.
U.S. electric-vehicle maker Rivian Automotive is preparing to lay off more than 600 employees—about 4% of its workforce—the Wall Street Journal reported. The move reflects a push to rein in expenses and adjust to a cooling EV market, a pragmatic response to shifting demand.
This is the second cutback in recent months: in September, the company trimmed roughly 1.5% of staff. Rivian has been grappling with high manufacturing costs, softer demand, and intensifying competition from Tesla, Ford, and Chinese brands.
Even so, the company is pressing ahead with upgrades at its plant in Normal, Illinois, where it builds the R1T pickup and R1S SUV, while preparing to bring the R2 to market—a more affordable electric SUV intended to extend the customer base beyond the premium tier. Emphasizing a lower-priced model looks like a sensible way to widen appeal without straying from the brand’s core.
Analysts say the reductions highlight the need to boost efficiency and achieve sustainable profitability. Despite a strong start and backing from investors including Amazon and Ford, Rivian still loses money on every vehicle it produces—an uncomfortable reminder that scale and name recognition alone do not balance the books.
