Rivian cuts hundreds after R2 SUV deliveries begin

Rivian has confirmed layoffs affecting hundreds of employees, less than two weeks after commencing deliveries of its R2 SUV. The company stated the restructuring aims to boost efficiency as it works towards profitable scaling. This marks at least the fourth round of job cuts for Rivian in 2024. The move comes despite a significant investment from Uber and a planned purchase of 50,000 R2 SUVs for robotaxi services, highlighting the company's ongoing challenges in achieving profitability amidst substantial development costs for autonomous vehicle technology.