RIVIAN CUTS HUNDREDS OF WORKERS AFTER R2 LAUNCH

The electric vehicle maker said the workforce reduction is part of a broader scaling strategy to reach profitability. The move comes as Rivian recently adjusted its timeline, delaying profitability goals to prioritize investment in autonomous driving technology. Rivian launched deliveries of its R2 compact electric vehicle, a key product for the company's mass-market ambitions. The R2 is priced significantly lower than Rivian's R1T truck and R1S SUV, targeting a broader customer base. The company has faced investor pressure to demonstrate a clear path to profitability. By restructuring operations while ramping R2 production, Rivian aims to balance growth with cost efficiency. The decision to invest heavily in autonomy reflects the company's long-term strategy, though it extends the timeline for reaching black ink. Rivian's autonomous driving initiatives position the company for potential revenue streams beyond vehicle sales, but require substantial capital investment.