EV-maker Rivian cuts hundreds of jobs after launching new SUV

Rivian has made a significant move by laying off hundreds of employees in its service and customer division, reflecting a strategic effort to restructure and achieve profitable growth as it scales up operations. This decision comes shortly after the launch of a new SUV, signaling the company's focus on cost-efficiency and profitability amid the competitive electric vehicle market. Such restructuring could impact Rivian's customer service and operational efficiency in the short term, but it's a calculated risk to secure long-term sustainability in the face of industry challenges.