CNN —Rivian announced Wednesday that it will lay off 10% of its salaried workers beginning Thursday morning, amid a quarterly loss and an increasingly competitive EV market.
Rivian has a total of 16,700 employees but would not disclose how many of those are considered salaried employees.
Rivian has previously, on two different occasions, laid off 6% of its workforce, as the company has looked to reduce its losses.
Sales of electric vehicles has not expanded as rapidly in the past year as it had before, and automakers have blamed high interest rates for some of that slow-down.
Scaringe boasted that Rivian produced the best-selling electric vehicle over $70,000 last year.
Persons:
CNN — Rivian, RJ Scaringe, Rivian, Tesla
Organizations:
CNN, Ford, Tesla, Scaringe
Locations:
California