WASHINGTON (dpa-AFX) - Rivian Automotive Inc. (RIVN) said it is laying off hundreds of employees, representing less than 2% of its workforce, as the electric vehicle maker seeks to improve profitability.
The layoffs, first reported by The Wall Street Journal, affect certain teams in the service and customer operations segments. Rivian had about 15,200 employees across North America and Europe at the end of 2025.
The move comes shortly after the launch of the R2 SUV, a lower-priced model that Rivian sees as key to expanding its customer base and moving toward profitability.
Rivian has yet to report a profit since becoming a public company. Last year it had a net loss of $3.6 billion.
Rivian shares closed at $15.93 on Tuesday, down 4.5%.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
