This is the severance package Rivian is offering to more than 600 employees who were laid off
Update: 2025-10-30
Description
Rivian, the electric vehicle startup, is making significant cuts to its workforce, laying off over six hundred employees, or about four and a half percent of its staff. The company aims to improve profitability and prepare for the launch of its new R2 SUV next year. Severance packages vary based on job level and length of service, with entry-level employees receiving up to ten weeks of pay and higher-ups getting up to twenty-eight weeks. Rivian is also offering career transition assistance and the opportunity to apply for future positions. This move is part of a broader trend in the automotive industry, as General Motors recently announced job cuts due to slow electric vehicle market growth and shifting regulations. The electric vehicle sector faces challenges, including waning consumer interest and the end of federal tax credits, making it a highly competitive and rapidly evolving market.
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