Rivian Reduces Workforce Significantly Following R2 Launch

WHO:

Fast Company - Rivian Automotive (Nasdaq: RIVN) has over 15,200 employees.

Fast Company - Rivian spokesperson confirmed the layoffs.

WHAT:

Fast Company - Rivian has cut hundreds of jobs as part of a restructuring effort.

Fast Company - The layoffs will affect fewer than 2% of Rivian's workforce, equating to around 300 job losses.

Fast Company - Rivian sold around 42,000 EVs last year, generating $5.4 billion in revenue.

Fast Company - Rivian posted a $3.6 billion loss last year.

Fast Company - Rivian's stock price closed down 4.5% after the layoffs were confirmed, at $15.93.

Fast Company - RIVN shares have lost more than 19% since the beginning of the year.

WHERE:

Fast Company - The layoffs primarily affect employees in Rivian's service and customer departments.

WHEN:

Fast Company - The last mass layoffs occurred in October, when Rivian laid off more than 600 workers.

Fast Company - The R2 mid-size SUV began delivering to customers last week.

WHY:

Fast Company - Rivian is seeking to achieve profitability and has restructured teams to scale its business profitably.

TechCrunch - The company pushed back its profitability goal to invest in autonomy.

HOW:

Fast Company - Those laid off will have the option to apply for other open roles at Rivian.

(UPDATED June 17, 2026 14:19 UTC)

Rivian Automotive has confirmed the layoffs of around 300 employees, which represents less than 2% of its workforce of over 15,200, as part of a restructuring effort aimed at achieving profitability. The job cuts primarily impact the service and customer departments, and those affected will have the option to apply for other open roles within the company. Following this announcement, Rivian's stock price fell by 4.5%, closing at $15.93, and shares have dropped more than 19% since the start of the year.