Rivian Automotive, Inc. (RIVN)
After hours:
| Previous close | 8.71 |
| Open | 8.75 |
| Bid | 8.72 x 7800 |
| Ask | 8.75 x 7800 |
| Day's range | 8.73 - 9.01 |
| 52-week range | 8.26 - 28.06 |
| Volume | |
| Avg. volume | 46,291,309 |
| Market cap | 8.543B |
| Beta (5Y monthly) | 1.89 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -5.74 |
| Earnings date | 07 May 2024 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | 17.64 |
- Yahoo Finance Video
Rivian trims another 1% of workforce in latest layoff round
In its second round of layoffs in 2024, EV maker Rivian (RIVN) plans to cut another 1% of its workforce. Market Domination Co-Hosts Julie Hyman and Josh Lipton discuss the significance of this on Rivian's position in the electric vehicle market. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
- Reuters
UPDATE 2-Rivian cuts 1% of workforce in second round of layoffs this year
Electric vehicle maker Rivian said on Wednesday it cut about 1% of its workforce - the second round of job cuts this year - as it reduces cost amid a broader slowdown in EV demand. "This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year," the maker of R1S SUVs and R1T pickup trucks said in an email to Reuters, adding that the cuts were focused on staff supporting the business. Reducing cost is crucial for Rivian as high interest rates to rein in inflation have hurt consumer demand for EVs that are typically more expensive than their gas-powered counterparts.
ReutersRivian cuts 1% of workforce in second round of layoffs this year
SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Wednesday it cut about 1% of its workforce - the second round of job cuts this year - as it reduces cost amid a broader slowdown in EV demand. "This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year," the maker of R1S SUVs and R1T pickup trucks said in an email to Reuters, adding that the cuts were focused on staff supporting the business. Reducing cost is crucial for Rivian as high interest rates to rein in inflation have hurt consumer demand for EVs that are typically more expensive than their gas-powered counterparts.
