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Rivian Automotive (RIVN) stock is inching higher on June 17 after the electric vehicle (EV) maker announced a new round of layoffs.
In its press release, the company said it will cut about 300 jobs, or less than 2% of its total workforce, primarily within its service, sales, and customer support divisions.
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Sign up now! At the time of writing, Rivian shares are up nearly 30% versus their May low.
Rivian’s restructuring coincides directly with the highly anticipated rollout of its mass-market R2 SUV, which the company started delivering just last week.
On the surface, cutting staff as you launch the most critical vehicle in your corporate history seems counterintuitive.
However, these workforce reductions aren’t happening on the factory floor; they are strategically targeted at corporate, marketing, and customer support segments.
Given the R2’s much more affordable $58,000 price tag, Rivian Automotive is moving away from the costly, high-touch marketing required for its luxury R1 lineup that costs as much as $100,000.
The all-new R2 sports utility vehicle essentially has to sell itself on volume and brand equity.
By automating and streamlining the sales funnel, the electric vehicle maker is proactively cutting overhead, ensuring that every dollar saved can be redirected into actual manufacturing throughput.
This could help drive RIVN shares higher as the year unfolds.
In 2026, investors are increasingly punishing EV companies that burn cash strictly on hardware, favoring those that show a clear path to high-margin software revenue.
| Product | Price | Change |
|---|---|---|
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| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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