The company is currently increasing production rates to meet significant demand, this phase of growth being one of the most critical in the life and existence of an automotive company.
The supply chain has been severely disrupted by the COVID-19 pandemic, which penalizes suppliers. All these constraints only drive up costs, further compounding losses for young automakers like Rivian
Rivian said, "Supply chain continues to hinder our production. This challenge continues in some technological components such as semiconductors, as well as some non-semiconductor components.
However, the company would like to keep its cost under control. According to Bloomberg News, Rivian plans to cut hundreds of jobs. These layoffs will only apply to non-manufacturing roles.
Overall, Rivian plans to lay off 5% of its 14,000 employees, says Bloomberg, which quotes people familiar with the matter.