Rivian announced layoffs of more than 600 employees, representing approximately 4.5% of its workforce. The announcement was made on October 23 in a memo from CEO RJ Scaringe. The cuts primarily affect marketing, vehicle operations, sales and delivery, and mobile operations teams. The layoffs are attributed to slower-than-expected EV demand following the expiration of the $7,500 federal EV tax credit and the need to prepare for the R2 launch in 2026