SAN FRANCISCO, April 17 (Reuters) - Electric vehicle maker Rivian (RIVN.O), opens new tab said on Wednesday it cut about 1% of its workforce - the second round of job cuts this year - as it reduces cost amid a broader slowdown in EV demand.

Rivian cuts 1% of workforce in second round of layoffs this year | Reuters

Rivian has faced many of the same struggles that electric-car manufacturers worldwide have, including stagnant demand. Spencer Platt / Getty Images

Rivian Lays Off More Workers After Delaying Georgia Factory

The move follows a 10% layoff at Rivian in February when the company disappointed investors with a lower-than-expected 2024 production forecast. As of Dec. 31, Rivian had 16,790 employees across North America and Europe, according to its annual report.

Rivian cuts 1% of workforce in second round of layoffs this year

Rivian (NASDAQ:RIVN) stock is the talk of Wall Street today after Needham lowered its price target on the electric vehicle (EV) maker to $13 per share from $18. According to the financial services company, the slashed outlook results from an evaluation of Rivian’s first quarter production ...

Needham Just Slashed Its Price Target on Rivian (RIVN) Stock | InvestorPlace

RIVN) stock is rising today. In February 2024, the electric vehicle (EV) producer reduced its salaried workforce by 10%. Yesterday, it announced plans to lay off even more workers. This time around, though, the Rivian layoffs are much less significant. Only 1% of its jobs are being eliminated ...

Rivian Layoffs 2024: What to Know About the Latest Round of RIVN Job Cuts | InvestorPlace

Rivian Automotive Inc. will cut an another 1% of its workforce, the second round of layoffs this year as the electric vehicle industry grapples with flagging consumer demand.

Rivian Cuts More Jobs as Woes Mount for Electric Vehicle Market - Bloomberg

RIVN) stock is back in the green today. The electric truck producer hasn’t reported anything positive today, but this pop may be the start of something investors have been waiting for. Some reports indicate that a Rivian short squeeze could be coming and if it is, investors should be watching ...

Get Ready for a Rivian (RIVN) Stock Short Squeeze | InvestorPlace

The most recent trading session ended with Rivian Automotive (RIVN) standing at $8.74, reflecting a +0.34% shift from the previouse trading day&#x27;s closing. The stock outpaced the S&amp;P 500&amp;#39;s daily loss of 0.58%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 1.15%.

Rivian Automotive (RIVN) Rises As Market Takes a Dip: Key Facts

Rivian’s CEO, RJ Scaringe, said the move was to “maximize the amount of impact we can have as a company” on the company’s media call. Scaringe explained that Rivian is “not immune to existing economic and geopolitical uncertainties.”

Rivian (RIVN) is cutting another 1% of jobs as the EV maker works toward profitability

Rivian Automotive (NASDAQ: RIVN) received several downgrades from analysts in the wake of its fourth-quarter earnings report released on Feb. 21. Revenue more than doubled last year, but rising interest rates are starting to take a toll on electric vehicle (EV) demand.

Rivian Automotive Stock Has 26% Upside, According to This Wall Street Analyst

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Rivi is a tech-first company building the most intelligent travel product - one that lets you have a conversation with an AI to plan a fully personalized end-to-end trip: Flights, Stays, Things to do, Eatouts \u0026 more

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