About 840 of these workers have been advised Wednesday that they are going to be leaving the corporate.
Scaringe pointed to inflation, rising rates of interest and elevated commodity costs as components that led the startup automaker to trim its workforce.
Rivian solely not too long ago began manufacturing of its three preliminary merchandise, the R1T pickup, the R1S luxurious SUV and an electrical supply van for which Amazon, a serious Rivian investor, is the first buyer.
“We’re financially nicely positioned and our mission is extra essential than ever, however to completely understand our potential, our technique should help our sustainable development as we ramp in direction of profitability.” Scaringe wrote in an e-mail to workers asserting the layoffs.
The Irvine, California-based firm provided departing workers 14 weeks of normal pay as nicely of constant healthcare protection via the tip of the yr.