About 840 of these personnel had been advised Wednesday that they will be leaving the company.
Scaringe pointed to inflation, soaring desire prices and greater commodity rates as aspects that led the startup automaker to trim its workforce.
Rivian only not too long ago started out creation of its a few initial goods, the R1T pickup, the R1S luxurious SUV and an electrical supply van for which Amazon, a main Rivian investor, is the principal purchaser.
“We are fiscally perfectly positioned and our mission is a lot more significant than at any time, but to thoroughly recognize our opportunity, our strategy have to assist our sustainable advancement as we ramp toward profitability.” Scaringe wrote in an email to employees announcing the layoffs.
The Irvine, California-primarily based firm provided departing workforce 14 weeks of typical pay as very well of continuing health care coverage by way of the end of the year.