Rivian Cuts About 600 Jobs in Latest Setback for EV Maker (1)

Rivian Automotive Inc. is cutting more than 600 jobs, or about 4.5% of its workforce, as the company contends with an unsteady market for electric vehicles in the US.

In a memo seen by Bloomberg, Rivian Chief Executive Officer RJ Scaringe said the company is cutting the workforce as part of structural adjustments ahead of the launch of its new R2 model and amid the need to profitably scale.

Scaringe said the company is moving multiple functions into a single marketing organization, of which he will act as interim head. The company is also streamlining its service, delivery and sales ...