Layoff by Rivian

Rivian & Arrival to restructure business, Tesla to continue layoffs

Business News Viral
5
(1)

Last Updated on 5 months by Mukesh

Rising inflation and supply chain systems are hitting hard the EV automakers in the U.S. EV giant Tesla started the procedure for restructuring the business last month. In this process, the company laid off hundreds of its employees. Rivian and Arrival companies have also announced to walk on the same path. This has put the jobs of many under the cloud.

Layoff by Rivian:

Rivian might start the process of layoffs this Friday. The company’s business has been doing good for the past months, but still, it is planning to restructure and start layoffs.

Rivian’s CEO RJ Scaringe has informed the employees through an e-mail sent on Monday night about the company’s plans. In the e-mail, he mentioned that there would be a meeting with the employees on Friday, and in it, the authorities would brief the employees about the layoff plans. Scaringe also added that the company is planning to close some internal programs for the time being.

It seems that the company does not want to take any chance in the long run and wants to remain in a profitable position even though it is already doing good.

Arrival’s restructuring plans:

Arrival has also made plans to give its business a new shape to increase its production and stay in the competition. It has mentioned in its press release about the plans of cost-cutting.

Even though Arrival has not mentioned anywhere regarding the layoffs but cost-cutting, one can presume that layoffs can be part of the process.

The company will share further details after its meeting on 11th August, which will be about its quarter two earnings.

Tesla to continue layoffs:

Last month Tesla reduced its workforce by 10% as CEO Elon Musk felt that the company was overstaffed. This impacted the employees engaged in the departments of sales, service, and deliveries.

Meanwhile, Reuters has reported that Tesla is going to close its branch in San Mateo, California.

Most of the workers that were laid off by Tesla had joined Rivian, and now Rivian is also going to lay off. This has put the jobs of those employees at risk again. One can only wish for the revival of the EV automaker industry again.

How useful was this post?

Click on a star to rate it!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.