Arrival Appoints Igor Torgov as CEO and Announces Significant Savings Initiatives to Reduce Spend by Approximately 50%

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Go back to Arrival Appoints Igor Torgov as CEO and Announces Significant Savings Initiatives to Reduce Spend by Approximately 50%

Rivian (RIVN) to cut jobs by 6% amidst price war

February 1, 2023 11:56 AM EST

Reuters reports in an exclusive story Wednesday that Rivian Automotive (NASDAQ: RIVN) is laying off 6% of its workforce in an effort to cut costs. The American EV maker, already grappling with falling cash reserves and a weak economy, is now bracing for what may be an industry-wide price war.

The falling EV prices were kicked off by cuts made recently by Elon Musk-led Tesla and Ford... More