Rivian To Cut About 600 Jobs Amid Trump Administration’s EV Policy Shift: Report

• According to a Bloomberg report, Rivian’s latest round of layoffs affects commercial roles across the servicing and sales departments.
• The Irvine, California-headquartered company said in August it would only break even on a gross profit basis in 2025, compared with its previous forecast of a modest profit.

Rivian Automotive Inc. (RIVN) is reportedly conducting a round of layoffs affecting around 600 employees, amounting to about 4% of its workforce.

According to a Bloomberg report citing people familiar with the matter, Rivian’s latest round of layoffs affects commercial roles across the servicing and sales departments.

Rivian’s shares were down 0.46% in Thursday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.

Challenging EV Environment

Rivian’s layoffs come amid a challenging environment for electric vehicle makers in the U.S. The Irvine, California-headquartered company said in August it would only break even on a gross profit basis in 2025, compared with its previous forecast of a modest profit.

The company cited President Donald Trump’s tariffs as the reason for its change in forecast, according to a Bloomberg report. “While we believe deeply in the long-term value drivers of our business, the policy environment continues to be complex and rapidly evolving,” Rivian CEO RJ Scaringe told investors during a post-earnings call, according to the report.

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