Rivian reportedly considers laying off 700 employees

Rivian wants to produce 25,000 vehicles by the end of the year.

Electric automaker Rivian is considering laying off around 5 percent of its 14,000 employees, or around 700 people, according to a report from Bloomberg. The report notes that, while nothing has been officially decided or announced yet, the company is mainly looking to remove jobs that were added as it scaled up and that aren’t involved in manufacturing.

Reached for comment on the report, Rivian spokesperson Miranda Jimenez said that the company doesn’t have anything to add at this time. And Bloomberg said it may be a few weeks before an official announcement.

Rivian’s plan has been to ramp up production this year

This news comes at an important time for Rivian. The company is just starting to ramp up production of its pickups, SUVs,...

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