Headline: Rivian (RIVN) Lays Off Hundreds Amid Losses, R2 Launch

Rivian (RIVN) announced Tuesday, June 16, 2026, it is laying off hundreds of employees, representing less than 2% of its workforce, to curb persistent losses. The move comes just a week after the electric vehicle maker launched its crucial R2 SUV, a model intended to broaden its market appeal and achieve profitability. The layoffs primarily impact teams within its service and customer departments. Rivian, which reported 15,232 employees in North America and Europe at the end of 2025, stated the restructuring aims for profitable scaling. The company incurred a $3.6 billion loss in 2025, delivering 42,247 vehicles, and faced an approximate $6,000 loss per vehicle delivered in Q1 2026. This follows a previous reduction of over 600 employees in October 2025 and occurs amidst a challenging market with potential changes to federal EV incentives.