{"id":552270,"date":"2023-02-03T09:44:45","date_gmt":"2023-02-03T04:14:45","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=552270"},"modified":"2023-02-03T10:28:51","modified_gmt":"2023-02-03T04:58:51","slug":"electric-car-maker-rivian-aims-to-cut-costs-lays-off-6-of-workforce","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/electric-car-maker-rivian-aims-to-cut-costs-lays-off-6-of-workforce\/","title":{"rendered":"Electric car maker Rivian aims to cut costs, lays off 6% of workforce"},"content":{"rendered":"<p>With an aim to cut costs, electric car maker Rivian is laying off 6 per cent of its workforce, the media reported.<\/p>\n<p>As reported by Reuters, Rivian&#8217;s chief executive RJ Scaringe announced the lay-offs in an email to employees, stating that the firm is focusing resources on increasing vehicle manufacturing and achieving profitability.<\/p>\n<p>Despite a massive initial public offering in November 2021, the price of Rivian&#8217;s shares has dropped by about 90 per cent as of Tuesday&#8217;s closure.<\/p>\n<p>&#8220;We must focus our resources on ramp and our path to profitability,&#8221; Scaringe wrote in the email.<\/p>\n<p>He also apologised to employees for the necessity of the cuts, the report mentioned.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With an aim to cut costs, electric car maker Rivian is laying off 6 per cent of its workforce, the media reported. As reported by Reuters, Rivian&#8217;s chief executive RJ Scaringe announced the lay-offs in an email to employees, stating that the firm is focusing resources on increasing vehicle manufacturing and achieving profitability. Despite a massive initial public offering in November 2021, the price of Rivian&#8217;s shares has dropped by about 90 per cent as of Tuesday&#8217;s closure. &#8220;We must focus our resources on ramp and our path to profitability,&#8221; Scaringe wrote in the email. He also apologised to employees [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-552270","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/552270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=552270"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/552270\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=552270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=552270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=552270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}