Rivian Faces Layoffs and Stock Downturn as EV Industry Challenges Mount

Rivian, an electric vehicle company, left thousands of its workers in suspense after announcing a 10% layoff of its salaried staff, with employees having to wait until the next morning to find out if they were affected. The company cited challenging macroeconomic conditions, including high interest rates and geopolitical uncertainty, as reasons for the layoffs. This move comes as part of a trend in the tech industry, with other companies implementing various methods to inform employees of changes in their roles.