EV maker Rivian to cut 6% of jobs amid price war -internal memo
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Bloomberg says Rivian Automotive CEO told staff the company is developing an electric bike
February 3, 2023 2:29 PM ESTElectric vehicle maker Rivian Automotive (NASDAQ: RIVN) is developing an electric bike, Bloomberg said on Friday.
The California-based company's chief executive, RJ Scaringe, reportedly told staff the news at a companywide meeting, according to Bloomberg sources.
The publication stated that Scaringe... More
Rivian (RIVN) to cut jobs by 6% amidst price war
February 1, 2023 11:56 AM ESTReuters 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
