Rivian makes its second small workforce cut of the year ahead of R2 SUV launch

Summary of Key Points Core Perspective - Rivian is laying off approximately 150 workers as part of its preparation for the launch of the more affordable R2 SUV next year [1] Group 1: Layoff Details - The recent layoffs primarily affected the "commercial" team, which is responsible for sales and service operations, with affected employees being eligible for rehire and encouraged to apply for other positions [2] - This round of layoffs follows a previous cut of around 1% of the total workforce reported in late June, which targeted Rivian's manufacturing team [2] Group 2: Workforce Adjustments - Over the past two years, Rivian has made several workforce adjustments, including a layoff of around 10% of its staff in early 2024 and another small cut in April 2024 [3] - At the beginning of the year, Rivian had approximately 15,000 employees worldwide [3]