US-based EV company Rivian reportedly laid off nearly 1% of its workforce in its latest round of layoffs. The Rivian layoffs were implemented to cut costs. In January, Rivian layoffs began in 2022 when the company laid off 6% of its workforce in June, and in the following year, the EV company laid off more than 6% of employees in February. In February 2024, Rivian laid off 10% of its total workforce. The reason for the Rivian layoff was reportedly initiated to be cost reduction and slow EV demand. According to the report by Reuters, cost reduction is very important for the EV maker because the high-interest rates hurt consumer electric vehicle demand, which is already more expensive than petrol/gasoline-powered vehicles. Google Layoffs 2024: To Slash Costs, Tech Giant Reportedly Lays Off ‘Unspecified’ Number of Employees in Finance and Real Estate Teams.

Rivian Layoffs 2024 Leads to 1% More Job Cuts: 

(SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user's social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)