Rivian Automotive Inc (NASDAQ:RIVN) is planning to lay off more than 600 employees, or roughly 4% of its workforce of about 15,000 as of the end of 2024, the Wall Street Journal reported. The cuts are expected to primarily affect commercial roles, including sales and servicing departments.
Rivian is reportedly cutting another 600 workers in its third layoff of the year, or about 4% of its total workforce, according to The Wall Street Journal.
Electric-vehicle maker Rivian Automotive is set to lay off more than 600 people, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The latest trading day saw Rivian Automotive (RIVN) settling at $12.92, representing a -2.12% change from its previous close.
Wall Street analysts are projecting a modest rally in Rivian (NASDAQ: RIVN) stock over the next 12 months, continuing its recent upward momentum.
Shares of Rivian Automotive (NASDAQ:RIVN) lost 1.21% over the past five trading sessions after losing 3.40% the five prior.
The end of a key U.S. tax credit for electric vehicles is poised to hurt Rivian Automotive Inc., according to a Mizuho analyst who just turned bearish on the stock.
Legendary investor Warren Buffett proved that so-called "boring" stocks can produce huge gains over long periods of time. Often, these businesses don't make the headlines for months at a time, or even years.
Recently, Zacks.com users have been paying close attention to Rivian Automotive (RIVN). This makes it worthwhile to examine what the stock has in store.
Shares of Rivian Automotive (NASDAQ:RIVN) lost 3.40% over the past five trading sessions after losing 9.49% the five prior.
Rivian Automotive (RIVN) closed the most recent trading day at $13.05, moving +1.95% from the previous trading session.
Shares of Rivian Automotive (NASDAQ:RIVN) lost 9.49% over the past five trading sessions after losing 2.77% the five prior.