Rivian Layoff 10% Staff and Lowers Production Forecast for 2024

[LetsgoRIVN]

Lol

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[Kevlar]

Rivian to Cut 10% of Salaried Staff, Citing Economic Uncertainty
https://www.bloomberg.com/news/arti...of-salaried-staff-citing-economic-uncertainty

Rivian Automotive Inc. revealed plans to cut 10% of its salaried workforce and set production plans well below Wall Street’s expectations as the maker of electric vehicles grapples with stagnant demand and economic turbulence.

so what likely happens now?

does someone swoop in and buy Rivian as a distressed asset? This is no longer a positive story and one of pending reorganization and management turnover.

Great product concept and market, I just didn’t think it was executed well.

 

[Zoidz]

so what likely happens now?

does someone swoop in and buy Rivian as a distressed asset? This is no longer a positive story and one of pending reorganization and management turnover.

Great product concept and market, I just didn’t think it was executed well.

I'd argue that it was a great product concept and market and initially was executed well. But between COVID, inflation and the EV political football, it is now a great product with a soured market that obliterated the execution plan.

 

[LetsgoRIVN]

Investors are punishing the leadership for the execution, bad decision after another and they took the matter lightly.

 

[Biturbowned]

so what likely happens now?

does someone swoop in and buy Rivian as a distressed asset? This is no longer a positive story and one of pending reorganization and management turnover.

Great product concept and market, I just didn’t think it was executed well.

That would be a good thing imo. Trading near cash (today).

 

[mkg3]

Just because elon made his company do it doesn't mean it's a good idea.

The build quality coming out of those highly compromised conditions wasn't exactly great either.

Perhaps you rather see the company go bankrupt and fail.

Elon did it because he could and needed to do something to increase the throughput to avoid bankruptcy.

Build quality?? Get real. Rivian quality is anything but stellar. Maybe you've missed all the panel gaps, failed drive units and all the other posting here since the production started. I've been luck, my R1S build is okay. Its almost as good as my Tesla.

 

[mkg3]

Based on how vehicles have been manufactured for the past 50+ years, this is not even remotely possible, except for perhaps mounting the tires on the rims.

Yes, Tesla did it. That does not mean Rivian should or could do it. And Telsa did not do start to finish build/assembly in a tent, which is what Rivian needs.

"The first parts of the process, where the parts are stamped and the core of the car comes together, still happen inside the factory. Once the parts have been to the paint shop, they come here for final assembly."

"According to a permit filed with the city, the tent measures about 4,000 square feet and it's meant to be used for "wrapping vehicles to protect in transit.""

You might be right. Still, staying the current course is not the best option. Rivian need to reset their strategy or die...Become a part of some other company.

 

[White Shadow]

so what likely happens now?

does someone swoop in and buy Rivian as a distressed asset? This is no longer a positive story and one of pending reorganization and management turnover.

Great product concept and market, I just didn’t think it was executed well.

EV Merger Ahead? Why GM Should Buy Rivian Today | The Motley Fool

 

[Tahoe Man]

EV Merger Ahead? Why GM Should Buy Rivian Today | The Motley Fool

It makes sense to some degree, but I'm not sure about the product mix. Also would it be a cash or equity offer. I agree with Hoium that GM could pick and choose what would be useful for them esp with Rivian engineering, but again where does the product mix fit.

 

[Zoidz]

EV Merger Ahead? Why GM Should Buy Rivian Today | The Motley Fool

If this were to happen, GM's first move would be to stop the frequent OTA releases. "We're a car company, not a software company!!!!!"

 

[White Shadow]

It makes sense to some degree, but I'm not sure about the product mix. Also would it be a cash or equity offer. I agree with Hoium that GM could pick and choose what would be useful for them esp with Rivian engineering, but again where does the product mix fit.

If something like that does ever happen, I'd hope that Rivian becomes a separate brand under GM, instead of being completely integrated into GM.

 

[White Shadow]

If this were to happen, GM's first move would be to stop the frequent OTA releases. "We're a car company, not a software company!!!!!"

Come on....GM has been doing OTA updates for at least a few years now. I know they do it on Cadillac vehicles for sure.

 

[Tahoe Man]

If something like that does ever happen, I'd hope that Rivian becomes a separate brand under GM, instead of being completely integrated into GM.

Maybe, but GM had all those brands that failed, including Saturn which was suppose to be "a different kind of car company", but ultimately failed. Nevertheless it just goes to show how competitive the auto sector is.

 

[White Shadow]

Maybe, but GM had all those brands that failed, including Saturn which was suppose to be "a different kind of car company", but ultimately failed. Nevertheless it just goes to show how competitive the auto sector is.

What I meant is that if it ever did happen, I'd hope that Rivian would just become a separate brand under GM, meaning that they'd pretty much leave Rivian alone to do it's thing instead of trying to turn Rivian into another typical GM brand.

Saturn did fail, but if you really look at Saturn, it was typical GM stuff with a couple of exceptions---plastic body panels that didn't dent and a sales strategy where pricing was non-negotiable, which at the time was kind of groundbreaking for a mainstream auto manufacturer. Ironically, we're seeing more and more of that today, albeit for direct purchases that don't happen at a dealership.

 

[crashmtb]

Perhaps you rather see the company go bankrupt and fail.

Elon did it because he could and needed to do something to increase the throughput to avoid bankruptcy.

Build quality?? Get real. Rivian quality is anything but stellar. Maybe you've missed all the panel gaps, failed drive units and all the other posting here since the production started. I've been luck, my R1S build is okay. Its almost as good as my Tesla.

So it's either build cars in a tent or bankruptcy for rivian?

I wouldn't rollform roofing in a tent, nevermind build cars at scale.

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