Layoffs have started amid rising costs and the threat of an oncoming recession. Electric vehicle maker Rivian announced Wednesday it had fired about 6% of its workforce, rendering some 840 employees jobless.
RJ Scaringe, the CEO of the emerging startup, blamed rising inflationary pressures and the changing economy for the layoffs.
In an email sent to the employees, Scaringe said the decision would help the company ensure its growth in manufacturing operations without raising additional funds.
Automaker Ford is also considering letting go of about 8,000 employees to cut operational costs.