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Hereforthesnacks

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Rivian is laying off around 150 workers — its second small staff cut in a matter of months — as the company readies itself for the all-important launch of its more-affordable R2 SUV next year.

The company confirmed to TechCrunch that the new cuts were mostly to its “commercial” team, which deals with sales and service operations, and that affected employees will be eligible for rehire and encouraged to apply for other open positions. The Wall Street Journal first reportedthe layoffs earlier Thursday.

https://finance.yahoo.com/news/rivian-makes-second-small-workforce-230334326.html
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SANZC02

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Not really a surprise, company profits are down for many companies. The number of companies announcing layoffs have been going up since June. Hiring has slowed so people losing jobs are having a hard time finding work.

With all of the government layoffs, budget cuts to non-profit funding, and economic uncertainty with the tariff situation, that Is a lot of cash being pulled out of the economy. I think this is just the start of a tough second half for the US economy.
 

CharonPDX

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Rivian is laying off around 150 workers — its second small staff cut in a matter of months — as the company readies itself for the all-important launch of its more-affordable R2 SUV next year.

The company confirmed to TechCrunch that the new cuts were mostly to its “commercial” team, which deals with sales and service operations, and that affected employees will be eligible for rehire and encouraged to apply for other open positions. The Wall Street Journal first reportedthe layoffs earlier Thursday.

https://finance.yahoo.com/news/rivian-makes-second-small-workforce-230334326.html
I wonder if this means the van is seeing less non-Amazon sales than they hoped.
 
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Hereforthesnacks

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Not really a surprise, company profits are down for many companies. The number of companies announcing layoffs have been going up since June. Hiring has slowed so people losing jobs are having a hard time finding work.

With all of the government layoffs, budget cuts to non-profit funding, and economic uncertainty with the tariff situation, that Is a lot of cash being pulled out of the economy. I think this is just the start of a tough second half for the US economy.
Yeah 2nd half of the year will be rough. Buckling up here.

I was a little surprised though to see the cuts focus in areas that are the major Rivian soft spots.
 

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Frankly, I was stunned that Rivian announced they were resuming construction of the Georgia factory. Financially, they are in a precarious position. Demand is going to be a problem in the near-term with incentives off the table and the economy facing major uncertainties and headwinds.

If I were Riivan I would desperately be trying to conserve cash. The layoffs are just the start. Not sure what they are thinking with Georgia, and I wonder if they had to start by a certain date or lose incentives. If that is the case, I hope they are slow rolling as much as possible....
 

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Frankly, I was stunned that Rivian announced they were resuming construction of the Georgia factory. Financially, they are in a precarious position. Demand is going to be a problem in the near-term with incentives off the table and the economy facing major uncertainties and headwinds.

If I were Riivan I would desperately be trying to conserve cash. The layoffs are just the start. Not sure what they are thinking with Georgia, and I wonder if they had to start by a certain date or lose incentives. If that is the case, I hope they are slow rolling as much as possible....
I think with Georgia it was a use it or lose it scenario....
 

twraps

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Frankly, I was stunned that Rivian announced they were resuming construction of the Georgia factory. Financially, they are in a precarious position. Demand is going to be a problem in the near-term with incentives off the table and the economy facing major uncertainties and headwinds.

If I were Riivan I would desperately be trying to conserve cash. The layoffs are just the start. Not sure what they are thinking with Georgia, and I wonder if they had to start by a certain date or lose incentives. If that is the case, I hope they are slow rolling as much as possible....
Didn’t they get a government loan for the Georgia plant? Not that they won’t need to repay it one day but it’s on a different timeline than spending cash on hand.
They’re in a bit of a chicken/egg situation, so it’s definitely a bet. I hope it works out!
 

Newtonrj

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The R2 can start in Normal alongside the R1 and EDV. But that leaves nothing left in mfg capacity to do R3/X. If it be isn’t obvious, each new model has a lower price point and much higher run rate need. Normal is just not scalable beyond EDV, R1 and yr1 of R2. Expecting R2 RHD out of Stanton Springs being so close to ports.
 

Gen(R3)Xer

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Leasing Model 3 until R3X comes out, but now I have an R2 reservation as well.
Frankly, I was stunned that Rivian announced they were resuming construction of the Georgia factory. Financially, they are in a precarious position. Demand is going to be a problem in the near-term with incentives off the table and the economy facing major uncertainties and headwinds.

If I were Riivan I would desperately be trying to conserve cash. The layoffs are just the start. Not sure what they are thinking with Georgia, and I wonder if they had to start by a certain date or lose incentives. If that is the case, I hope they are slow rolling as much as possible....
It’s like you said, they have to start building or lose incentives. They got a massive government loan to build the plant. There is some pushback, but state and federal government is onboard, so it will go through.
 

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DD4ST

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VW will acquire Rivian worst case scenario (perhaps with the help of a third party). That's my opinion at least.
My prediction too. My guess it will be initially Rivian just becoming another parrt of the VW family with little outside change. But over time, technology, designs, and sales/service will start becoming more alike. On the plus side with VW, I’ve got an Audi eTron I really like. They know how to make vehicles, but their software is confusing, kludgy, and not nearly as informative as Rivian’s. This could be a great marriage. On the negative side, it converts an American-owned company into a foreign-owned one.
 

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Not really a surprise, company profits are down for many companies. The number of companies announcing layoffs have been going up since June. Hiring has slowed so people losing jobs are having a hard time finding work.

With all of the government layoffs, budget cuts to non-profit funding, and economic uncertainty with the tariff situation, that Is a lot of cash being pulled out of the economy. I think this is just the start of a tough second half for the US economy.
Laying off service staff is a bit surprising to me when they still can't keep up with service demand.
 
 








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