Rivian plans to lay off more than 600 workers

Core Insights - Rivian Automotive plans to lay off over 600 employees, which represents approximately 4% of its workforce [1][2] - The company had just under 15,000 employees at the end of the previous year [1] Market Challenges - Rivian and other electric vehicle manufacturers are facing increasing market challenges compared to previous years [2] - Changes in regulations under the Trump administration, including the removal of a $7,500 federal incentive for purchasing electric vehicles, are contributing to these challenges [2]