Rivian laying off 6% of its workforce

[lambo]

https://www.cnn.com/2022/07/27/business/rivian-layoffs/index.html

(CNN Business) - Rivian, the Amazon-backed manufacturer of electric pickups, SUVs and delivery vans, is laying off about 6% of its workforce as the company adjusts as the "world has dramatically changed," according to an email sent by CEO RJ Scaringe to Rivian's roughly 14,000 employees.​

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[pc500]

Good. They're hiring where it matters.

 

[R1Sky Business]

Good. They're hiring where it matters.

Extra guides I hope.....?!

 

[pc500]

Extra guides I hope.....?!

Most likely areas surrounding R2 development, engineers for self-driving, manufacturing optimizations, etc.

Guides will probably not play the same role they do today for R2, but in either case until production goes up that's not a priority.

 

[ORFynder]

Just confirmed my guide was affected by the layoffs. Just connected with him to thank him for securing my truck and making the purchase process seamless. Understand layoffs happen, but its never easy to people in the company.

 

[shrink]

Just confirmed my guide was affected by the layoffs. Just connected with him to thank him for securing my truck and making the purchase process seamless. Understand layoffs happen, but its never easy to people in the company.

Agreed. Feel terrible for those losing their jobs. Hope they get a decent severance and land on their feet quickly.

On the other hand, sounds like a smart business move for the company.

EDIT -

Just re-read article. This is decent - especially the healthcare:

"The Irvine, California-based company offered departing employees 14 weeks of regular pay as well of continuing healthcare coverage through the end of the year."

 

[lambo]

Agreed. Feel terrible for those losing their jobs. Hope they get a decent severance and land on their feet quickly.

On the other hand, sounds like a smart business move for the company.

It sounds like the benefits are decent. Doesn't make up for losing a job you like.

From the article:

The Irvine, California-based company offered departing employees 14 weeks of regular pay as well of continuing healthcare coverage through the end of the year.

 

[MountainBikeDude]

Every tech company is right now. Shopify, Hootsuite, EA... Tesla. Lots are coming out of the pandemichaving spent loads recruiting, but with a recession looming (great, bought a house at the peak...) most are trying to get ahead of that by cutting spending.

My wife's company relies on VC (Venture Capital) to continue, and the VC's cut back funding unless staffing was cut going forward. High burn = High return (potentially) but with markets on a downward trajectory, one has to do what they can to stay lightly in the red/hopefully black.

 

[mini2nut]

Don’t know what they are paying guides, mine was for a test drive, but he owns an R1T and has a R1S on order for the wife.

 

[SANZC02]

It would not surprise me to see the guide program be discontinued altogether. I just do not see how it would scale as the company grows and starts delivering over 500k a year. It already seems to be struggling based on some posts on these forums.

 

[mini2nut]

I knew this personal “guide” luxury would be cut out soon. I was stunned to hear that Rivian was delivering vehicles to customers homes.

Tesla? You order online and get a text when it arrives. You get 15 minutes for any questions at your delivery and the representative is on to the next customer.

 

[R1Sky Business]

It would not surprise me to see the guide program be discontinued altogether. I just do not see how it would scale as the company grows and starts delivering over 500k a year. It already seems to be struggling based on some posts on these forums.

Those #s won't happen for a while

 

[shrink]

I knew this personal “guide” luxury would be cut out soon. I was stunned to hear that Rivian was delivering vehicles to customers homes.

Tesla? You order online and get a text when it arrives. You get 15 minutes for any questions at your delivery and the representative is on to the next customer.

Tesla did home deliveries back in the day. I think part of that was to get around dealership delivery rules in some states or something. I can't remember the specifics. Guessing Rivian was trying to emulate early Tesla delivery practices. Rivian has imitated early Tesla in so many ways.

The thing I miss the most about the early Tesla days was valet service. If a car needed a repair, a valet would drive out to wherever I was - home or office - drop off a loaner; drive my car to the service center; drive my car back upon service completion; and then take the loaner back to the service center.

 

[SANZC02]

Those #s won't happen for a while

I agree but clearly even 15 or 20k for this year was enough to strain the program.

 

[cbuckley]

This in addition to 5% previously announced?

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