Rivian Stock Plummets 15% After Layoffs Announced
ToplineShares of electric vehicle manufacturer Rivian fell more than 15% in after-hours trading Wednesday after the company announced it would be laying off 10% of its salaried workforce in response to an increasingly difficult market.Rivian’s CEO said they “firmly believe in the full electrification of the automotive industry,” but ... [+] recognize the short-term “challenging macro-economic conditions.”Getty Images Key FactsRivian cited “economic and geopolitical uncertainties and pressures” when announci ...