rivian-might-be-laying-off-workers-that’s-actually-good-news.

Rivian Might Be Laying Off Workers. That’s Actually Good News.

Updated July 11, 2022 4:54 pm ET / Original July 11, 2022 3:23 pm ET

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Rivian Automotive stock was falling after a Bloomberg report on Monday said the company is considering trimming around 5% of its workforce. Shares slumped Monday, but the report isn’t necessarily bad news for investors.

Rivian (ticker: RIVN) shares were down to start the week, off about 5%. But most EV stocks were lower along with the broader market. In midday trading, Lucid Group (ticker: LCID) and Fisker (FSR) shares were down 7% and 4%, respectively. The Nasdaq Composite was down more than 2% as traders await the June inflation data coming Wednesday.

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