Rivian CEO tells staff the company is carrying out a 'major' cost-cutting effort
for Amazon by the end of the decade. Right now, though, the company seemingly isn't able to keep up with demand.I’d like to address the news reports that are circulating about restructuring at Rivian. The reports speculate broadly on many intricate internal discussions about our business so I wanted to offer more clarity.
As discussed in recent all hands meetings, we’ve been working to focus our business in order to stay ahead of the changing economic landscape. We are financially well positioned and our outlook remains strong, but to fully realize our objectives it is critical that our strategy supports our sustainable growth as we ramp towards profitability.
The hardest part of this process has been working through our organization to assess the size and structure of our teams and how well this aligns with our strategic plan. Our team is the core of Rivian and we are working to be as thoughtful as possible as we consider any reductions. We will always be focused on growth, however, Rivian is not immune to the current economic circumstances and we need to make sure we can grow sustainably.
This is not how we intended for you to hear about this. We had hoped these very sensitive and complex conversations would have stayed within Rivian until we could address them more comprehensively. However, because information is coming out unofficially, I wanted to personally address it. I’ll be sharing more this Friday at our scheduled All-Hands meeting.All products recommended by Engadget are selected by our editorial team, independent of our parent company.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rivian reportedly plans to lay off around five percent of its workforce | EngadgetThe company has been growing too quickly in some areas, according to Bloomberg..
Read more »
Rivian planning hundreds of layoffs following surge in staffingThe company, which has more than 14,000 employees, could target an overall reduction of around 5%.
Read more »
Report: Rivian Plans Non-Manufacturing LayoffsA worrying report emerged today about Rivian, which reportedly is planning layoffs in non-manufacturing areas.
Read more »
Rivian to address layoffs, restructuring at Friday meetingElectric truck maker Rivian Automotive will brief employees on Friday on potential layoffs and plans to suspend some programs as part of a broader restructuring, Chief Executive R.J. Scaringe said in an email sent to employees on Monday evening.
Read more »
Rivian May Soon Cut Hundreds Of Jobs In Non-Manufacturing Roles | CarscoopsLike Tesla, Rivian will be shrinking its workforce but will lay people off who are in non-manufacturing roles
Read more »