RIVIAN CUTS 600 JOBS AS EV SECTOR FACES HEADWINDS Rivian will lay off over 600 employees—4% of its workforce—as it trims costs ahead of its R2 SUV launch. The decision comes amid production delays and $5B in losses since 2021. EV demand is cooling, with Q2 sales down 6.3% and GM incurring $1.6B in charges, underscoring industry-wide pressure from rising costs and fading subsidies. #EVMarket #Rivian