Oct. 23 (UPI) -- All-electric vehicle maker Rivian Automotive has announced it is laying off 4.5% of its workforce amid mounting market pressures, the company said Thursday.
In a memo sent to employees, company founder and CEO RJ Scaringe said the cuts involve restructuring of its marketing, vehicle operations, sales and delivery and mobile teams, according to CNBC.
"These were not changes that were made lightly," Scaringe said in the memo. "With the changing operating backdrop, we had to rethink how we are scaling out go-to-market- functions. The news is challenging to hear, and the hard work and contributions of the team members who are leaving are greatly appreciated."
Rivian ended 2024 with just under 15,000 employees.
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