Rivian reportedly plans to lay off around five percent of its workforce

Rivian is said to be laying off hundreds of workers. Around five percent of the company's workforce may be cut, according to a report. 700 employees is the number of employees with a headcount of more than 15,000. There may be layoffs in the coming weeks. Rivian didn't reply to the question.

Most of the job cuts would be for non-manufacturing positions. The company has been targeting teams with duplicate functions. Over the last year, the number of employees at Rivian has doubled or tripled.

Rivian is no exception to the supply chain issues that have hit the automotive industry. Despite production difficulties, the company still expects to build 25,000 electric vehicles. Between its existing plant in Normal, Illinois and a second planned factory in Georgia, Rivian hopes to make 600,000 vehicles per year.

The company has a lot of orders. By the end of the decade, it will have to build 100,000 delivery vehicles. It makes sense to bolster production and streamline operations elsewhere.

According to a recent report, Rivian hired dozens of formerTesla employees. In June, it was reported that around 200 people were cut from the company's Autopilot team. Musk told employees that he had a bad feeling about the state of the economy and that they would be laid off.