Rivian to Downsize, While Some Investors Hold on for Promise
Posted on 07/11/2022
Electric vehicle maker Rivian Automotive, Inc. is planning to cut around 5% of its total workforce. The job cuts will target non-manufacturing roles. Institutional investors bet big on Rivian, despite its lackluster stock performance. Rivian delivered its first vehicles to customers in August 2021 and became a public company three months later. T. Rowe Price…
