Seeing news that 5% workforce cuts coming soon at Rivian. Never expected layoffs from Rivian. Though they seemed slower compared to initial targets on earnings call, they still are the fastest to ramp up among the other ev companies. Customers with deliveries seem to be happy. What is the reason for layoffs? How is the mood internally? Management error or lAzY eMpLoYeeS working from home? What happens to stock options and rsu of laid off employees? Severance package? What about all the contractors working for Rivian? Have they already been laid off? Usually contractors layoff doesnot even make the news. With contractors is it more like 20-30% workforce reduction? Why are they still posting jobs online? Rivian employees work on weekends already. With workforce reduction are they going to work 2 shifts everyday from now? Stock refreshers with Sinking stock price? Where are the job cuts going to be? Engineering, hr,it, high tech, finance? All the people who jumped from tesla to Rivian are to blame? Bro culture? How is RJ spinning this? #auto #interview #rivianautomotive #gm #stellantis #fisker #amazon #fedex #ups #arrival Edit: July 12th-All nON-mAnUFACturInG hiring has been paused. Hiring freeze. July 13th-Layoffs to be done/announced this Friday in a meeting. Some programs to be canceled as well. Source-Reuters
I have another interview at Rivian this week lol 😂
What role ?
You will be ghosted. Hiring freeze in effect
What kind of poll is this?
I think... I think OP is trying to smash? There's a lot of emoji action going on in there for a text during daylight hours. I'm into it.
News says non manufacturing employees. What does that mean?
Seems pretty self-explanatory... employees that don't work in manufacturing.
Actually it is quite vague mr smarty pants. So SDEs developing self driving feature work in manufacturing? Does the guy working on supply chain of parts work in manufacturing? How about R&D people working on battery cell tech?
Dude Rivian is bleeding money. Layoff for them just makes sense
Rivian needs to ramp up production to 200k vehicles annually and generate cash to cover expenses and stop burning money. All other tasks are secondary at current time. Rivian has about 2 -2.5 years until all his cash will be burned.
Unfortunately given Rivians track record, delivering 200k units seems like a pipe dream. Auto manufacturing at scale is hard to do - easy to say - but incredibly hard to do it right. I would exit Rivian positions or go all in on PUTs
Hard to judge a company by its "track record" when its "track record" of production is not even a full year. When compared to Tesla's production timeline/scaling, Rivian is doing okay; and if you factor in current supply chain issues, it's doing quite well.
I need both rivian and lucid to get their shit together so that we have competition and improve things here
Watch out for the Big3
It's not going to be Big 3, it's absolutely going to be more than 3 at least until next recession.
Rivian has serious cash problems. They will have serious battery and raw material problems soon..
Do you think Trail Engineers (in Rotational program) will be affected by layoff? We are paid lower than interns anyway!
Any updates on this layoff?
What kind of update u looking ?
Yeah. What kind are you looking for?
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Jerome Powell strikes again. BTW, we are in a Recession. atlantafed.org/cqer/research/gdpnow