Yahoo Financeยท2025-10-23 18:30Group 1: Rivian - Rivian is laying off approximately 600 employees, which constitutes about 4.5% of its workforce, due to a decrease in global demand for electric vehicles [1][4] - This layoff follows a previous reduction of around 1.5% of the workforce last month [4] - The decline in EV sales is attributed to the end of a significant federal tax credit for EV purchases by the Trump administration [4] - Rivian plans to launch a new vehicle in 2026 [4] Group 2: Industry Trends - Layoffs are part of a broader trend affecting both technology and media companies in the U.S. and Europe, with many firms downsizing in response to economic uncertainties [2] - Factors contributing to these layoffs include inflation, tariffs, rising living costs, and an ongoing federal government shutdown [2] - Some companies are citing artificial intelligence as a reason for workforce reductions, although critics argue this is merely an excuse for downsizing [2]