Rivian Remains Confident In Achieving Positive Gross Margin In Q4, CEO RJ Scaringe Says 'Pretty Significant' Vehicle Changes Planned
Rivian reported worse-than-expected losses of $1.36 per share and lost roughly $43,000 per vehicle in the fourth quarter of 2023. The road to profitability may be a tough one, and Scaringe outlined several cost-cutting measures Rivian is implementing, including a nearly 10% reduction to the EV-maker's salaried workforce.