Scaringe mentioned the corporate has begun “evaluating the dimensions and construction of our groups” and might be “as cautious as doable when contemplating any discount” within the variety of staff.
Rivian had about $16 billion in money on the finish of the primary quarter and advised traders it had sufficient money readily available to open its second US plant for $5 billion in 2025.
In his electronic mail to staff on Monday, Scaringe reiterated that the corporate’s priorities embody ramping up manufacturing of the R1 electrical truck and SUV, in addition to the EDV electrical supply van it is constructing for investor and strategic accomplice Amazon.
Rivian additionally stays centered on growing the smaller R2 sequence it plans to construct on the new Georgia plant, Scaringe mentioned.
Concerning the continued restructuring and doable redundancies, he mentioned: “Rivian just isn’t resistant to the present financial circumstances and we have to guarantee we are able to develop sustainably.”