Rivian to lay off 1% of its workforce, Reuters reports

Rivian will lay off about 1% of its total headcount, the second major round of job cuts this year as the company aims to cut costs amid a broader EV demand slowdown, Reuters’ Abhirup Roy and Akash Sriram report. “This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year,” the company told Reuters in an email.