Rivian CEO tells staff the company is carrying out a 'major' cost-cutting effort

Electric vehicle maker Rivian is planning a "major" cost-cutting drive and will be "as thoughtful as possible as we consider any reductions," CEO RJ Scaringe wrote in a memo to employees. Scaringe sent the note in response to reports that Rivian is planning up to 700 or so layoffs, primarily among non-engineering teams. "This is not how we intended for you to hear about this," he wrote. "We had hoped these very sensitive and complex conversations would have stayed within Rivian until we could ad...