RIYADH: American electric vehicle maker Rivian Automotive is planning hundreds of job cuts, Bloomberg reported citing people familiar with the matter.
The company, which has 14,000 employees, is now aiming to cut its workforce by 5 percent.
According to the report, the job cuts will focus on nonmanufacturing roles, including teams with duplicate functions.
People who wished to stay anonymous also noted that Rivian would announce this decision in the coming weeks.
Rivian had increased its workforce by double last year to ramp up production.
Earlier, Tesla’s Elon Musk also revealed that his company would cut its salaried workforce by 10 percent as worries of an economic downturn loom.
