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In business, growth is exciting, but lasting success often comes from making tough decisions behind the scenes. Companies frequently restructure operations, trim costs, and streamline teams to improve efficiency and move closer to profitability. While such moves can be painful in the short and long term, they are often viewed as necessary steps toward building a stronger and more sustainable business.
That brings us to Rivian Automotive (RIVN). The electric vehicle maker has once again turned to workforce reductions, laying off hundreds of employees – less than 2% of its staff – as it works to scale its business profitably. The timing is especially noteworthy. The cuts came just days after Rivian began delivering its highly anticipated R2 SUV, a vehicle many see as the company’s best chance to reach the mass market and finally generate consistent profits.
