Core Insights - Rivian plans to lay off over 600 employees, approximately 4.5% of its workforce of 15,000, as part of ongoing administrative changes in the EV industry [1][10] - The layoffs are part of a series of reductions the company has made over the past three years, coinciding with the upcoming launch of the R2, Rivian's most affordable SUV priced at $45,000 [3][9] - Despite a record high in EV sales in the US, Rivian faces challenges due to the elimination of a $7,500 federal tax credit, which could impact its delivery guidance for 2025 [2][9] Company Strategy - The layoffs are intended to streamline operations and improve efficiency as Rivian prepares for the R2 launch and aims to scale its business profitably [10][12] - The company is restructuring its marketing efforts by consolidating multiple functions into a single marketing organization, with the CEO acting as Interim Chief Marketing Officer during this transition [12][13] - Rivian reported 13,200 vehicle deliveries, marking a 32% year-over-year increase, but has narrowed its 2025 delivery guidance to between 41,500 and 43,500 vehicles [9]