Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Great Reset
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin and Alfie Oakes
  • World Gold Mine Production
  • Fidelity and Vanguard Since 1971

Rivian Plans Layoffs on “Path to Profitability”

February 2, 2023 By The Editors

By chase4concept @ Shutterstock.com

Rivian executives cited their “path to profitability” as the reason for layoffs at the electric vehicle company. The plan includes the firing of 6% of the company’s workforce. Nora Eckert reports for The Wall Street Journal:

Rivian Automotive Inc. plans to initiate another round of layoffs, the latest in the electric-vehicle startup’s efforts to preserve cash as it confronts challenges scaling its business.

In a note to employees sent Wednesday, Chief Executive RJ Scaringe said Rivian plans to trim another 6% of its workforce, mirroring a cut of the same size made last summer in response to inflationary pressures and an uncertain economic climate.

Reuters previously reported the layoffs.

Mr. Scaringe said that the Irvine, Calif., auto maker needs to give priority to its path to profitability and production of its first models, as well as development of future offerings to expand its lineup, according to the email, which was viewed by The Wall Street Journal.

He didn’t give an exact timeline of when the layoffs would occur, only that affected employees would receive an email from their managers. The company is planning an all-hands meeting for employees Friday to discuss the reductions, he said.

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Related Posts

  • The Net Zero Path: Energy Rationing Coming Soon
  • South Carolina Plans Limited reopening
  • A Populist Path to Power?
  • Summer Plans? Total Solar Eclipse and the Moon House
  • Author
  • Recent Posts
The Editors
Latest posts by The Editors (see all)
  • Will Africa Soon Be Embroiled in a War Over Resources? - September 20, 2023
  • Do You Really Need 8 Glasses of Water a Day? - September 18, 2023
  • What Are the Threats Posed by the WHO’s New Pandemic Treaty? - September 15, 2023

Dick Young’s Must Reads

  • Hillsdale College: What College Is Meant to Be
  • Democracy & Diversity: Not In the Constitution
  • Why Black Lives Matter Needs to Be Shut Down
  • What a Way to Make a Living: New Hampshire #1
  • The Breakfast of Champions
  • My Key West Garden Office
  • The Fed – “Independent” and “Non Political” – Joins The Resistance
  • For Whom Is Your Portfolio Serving?
  • Globalism Has Made America Dependent on Foreign Countries
  • We’ll Burn the Place Down!

Our Most Popular Posts

  • A High-Speed Collision with Reality
  • New York Finds a New Way to Harass Gun Owners
  • Will the UAW Get What It Wants?
  • Americans Are Not Happy with Bidenomics
  • Ron Paul Exposed the Fed and the Neocon Scam
  • Don't Tread on America's Children
  • Bidenomics Gutting Real Household Income
  • “I Want to Be a Farmer, a Garbageman, or Tom Brady”
  • Do You Really Need 8 Glasses of Water a Day?
  • Are You Guys Ready? Let’s Roll!

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • Will the Fed Hold Up Its End of the Bargain?
  • Should America Move Closer to the Saudis, or Push them Away?
  • Don’t Ask Me When to Haul Your Boat
  • Robot Warehouses Need Better Internet
  • California Mandates Drive Diesel Truck Buying Spree
  • Americans Are Not Happy with Bidenomics
  • Paris’s Big Plans for the Champs-Elysées
  • A Plan for Cutting Federal Government Spending
  • Investing Mistakes to Avoid: #1 Y-O-U
  • Mr. Protect and Preserve: For Where We’re Going

RSS Yoursurvivalguy.com

  • Will the Fed Hold Up Its End of the Bargain?
  • Are Most NFTs Now Worthless?
  • 2ND AMENDMENT ALERT: Biden to Create New Anti-Gun Office
  • Don’t Ask Me When to Haul Your Boat
  • You May Be Surprised by America’s “Least Woke City”
  • GREENWASHING: What’s in a Name?
  • Americans Are Not Happy with Bidenomics
  • “Oh, That Wasn’t So Bad”
  • Prepared for When the Next Black Swan Swoops In?
  • Investing Mistakes to Avoid: #1 Y-O-U

US Treasury Yield Curve: My Favorite Investor Tool

Five Year Treasury Yield

Doctor Faust and the Devil Come Looking

Will the Fed Hold Up Its End of the Bargain?

Hong Kong Loses Top Spot in Economic Freedom Index

Can This Mushroom Boost Your Memory?

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives