Rivian Automotive Inc. announced Tuesday that it is laying off hundreds of workers, representing less than 2% of its total workforce. The electric vehicle maker, which employs 15,232 people, is implementing these cuts as part of a push to reduce costs and narrow the losses that have defined its existence as a public company.
The job cuts specifically affect teams within the service and customer organization, which handles the company's sales and marketing. This restructuring is intended to help the business scale toward profitability as it prepares to roll out a new line of electric vehicles and launch a key new model.
While the company seeks to make the business profitable, Rivian recently pushed back its profitability goal in order to invest in autonomy.