Layoffs continue in SoCal area

[mini2nut]

Rivian is cutting more jobs to stay afloat during the BEV sales downturn.

https://www.ocregister.com/2024/05/10/rivian-laying-off-92-employees-at-orange-county-facilities/

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[UnsungZero_OldTimeAdMan]

My source says this is old news; west coast guide team.

 

[Jiji]

SF Chronicle reported yesterday there were layoffs in Palo Alto and SoCal but behind a paywall:

Area tech layoffs: Google and Rivian cut more jobs

Rivian, meanwhile, will be cutting 28 jobs across various departments at its Palo Alto office, along with a recruiter position in San Francisco. This is in addition to 92 roles at its facilities in Southern California.

Earlier this year, Rivian cut approximately 150 workers in the Bay Area, as part of its plan to decrease its salaried staff by 10%.

 

[Prime]

Hopefully this isn’t at SC’s because they’ve already been understaffed and overburdened.

 

[Electrified Outdoors]

I expected more cuts from Rivian and Tesla honestly. Its been a brutal 1Q and they need to adjust. If you ask me I see an overall slowdown ...not just with EVs.

 

[mini2nut]

Tesla just lowered the Model Y interest rate to 0.99% to help with declining sales and keep the factories humming. Tesla recently added a Quicksliver color option for $2k. It was available in Europe but not in America.

 

[ukyank]

Tesla just lowered the Model Y interest rate to 0.99% to help with declining sales and keep the factories humming. Tesla recently added a Quicksliver color option for $2k. It was available in Europe but not in America.

A limited time 0.99% rate would move alot if R1’s

 

[UnsungZero_OldTimeAdMan]

Chase allowing financing at 0.99%? Do you not know Chase? Fantasy. The leasing deals are already doing their jobs to move inventory.

 

[HaveBlue]

Everyone has to follow the market and be fiscally prudent. Sorry to see rivian has employees let go as everyone seems cool. It's just the way it is.

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