AM I NEXT? NO LOVE AT RIVIAN AUTOMOTIVE (06/28/25)

Stephen Levine July 21, 2022

JUNE 28, 2025 — 140 MANUFACTURING EMPLOYEES

Rivian has laid off approximately 1% of its workforce, or around 140 employees, mainly from the company’s manufacturing team, as it prepares for the launch of its more affordable R2 SUV model in 2026.

A spokesperson noted, “We have made the difficult decision to reduce a small number of our salaried manufacturing employees as part of an ongoing effort to improve operational efficiency.”

MAY 13, 2024 — 92 EMPLOYEES IN ORANGE COUNTY, 29 IN PALO ALTO

Continuing its cash conservation program, the company announced 92 layoffs in three Orange County facilities, Irvine, Costa Mesa, and Tustin, on June 18, 2024.

This follows a previous layoff of 191 employees in March 2024.

Additionally, on June 9, 2024, the company intends to lay off 29 employees in Palo Alto, California.

FEBRUARY 1, 2023 — 840 EMPLOYEES TO BE SACRIFICED IN A COST-CUTTING INITIATIVE

The company has announced it is laying off 6% of its workforce in a bid to conserve cash as it braces for a possible industry-wide price war in electric delivery vehicles.

The cost-cutting initiative impacts 840 employees.

Chief Executive R.J. Scaringe noted, “To deliver over the long-term, we must focus our resources on ramp and our path to profitability while ensuring we have the right set of future products, services, and technology,”

JULY 28, 2022 — UP TO 6% REDUCTION, 840 LAYOFFS

The company has announced that it is laying off 6% of its 14,000+ employees

From Founder and CEO RJ Scaringe, “Over the last six months, the world has dramatically changed with inflation reaching record highs, interest rates rapidly rising, and commodity prices continuing to climb — all of which have contributed to the global capital markets tightening. We are financially well positioned and our mission is more important than ever, but to fully realize our potential, our strategy must support our sustainable growth as we ramp toward profitability. We need to be able to continue to grow and scale without additional financing in this macro environment. To achieve this, we have simplified our product roadmap and focused on where it is most impactful to deploy capital.”

JULY 21, 2022 — Original post…

Irvine, California-based Rivian Automotive, an automotive technology company building a platform for electric vehicles, including SUVs, delivery vehicles, and pickup trucks, is planning to better align the workforce with the market and to compensate for the rapid hiring initiative where the company has grown too quickly.

Based on an estimated headcount of 14,000+ employees, a five-percent reduction in the workforce will impact approximately 700+ employees in nonmanufacturing roles, including teams with duplicate functions.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT ARGO AI (10/30/22)

Stephen Levine July 20, 2022

OCTOBER 30, 2022 — ARGO SHUTTING DOWN

The company has announced that it is ceasing operations by December 31st, 2022, and its primary backers are withdrawing funding and support.

The closure will impact approximately 2,000 employees, including 173 employees in Michigan. An unknown number of employees will be transitioned to backers, Ford or VW.

According to co-founders Bryan Salesky and Peter Rander, "We are incredibly grateful for the dedication of the Argo AI team, and so proud of our achievements together. The team consistently delivered above and beyond, and we expect to see success for everyone in whatever comes next, including the opportunities presented by Ford and VW to continue their work on automated driving technology. "Profitable, fully autonomous vehicles at scale are a long way off, and we won't necessarily have to create that technology ourselves,"

JULY 20, 2022 — Original post…

Pittsburgh, Pennsylvania-based Argo AI, an autonomous driving technology company backed by Ford and Volkswagen, has announced a cost-cutting initiative that includes the closure of its Washington, DC operation that tested self-driving vehicles, slowing hiring, and a reduction in force.

The cost-cutting initiative impacted 150 Argo employees, including employee recruiters, digital media and communications employees as well as members of its operations teams.

According to a company spokesperson, “With incredible growth and progress made in our mission to deploy driverless vehicles, we are making prudent adjustments to our business plan to best continue on a path for success.”

AM I NEXT? NO LOVE AT CARVANA (01/05/2025)

Stephen Levine May 24, 2022

JANUARY 5, 2025 — CAUTION

A major short-seller of securities has released a scathing report on the company suggesting extreme danger lies ahead and that the company’s track record may have been manipulated.

The January 2, 2025 report is available from Hindenburg Research – Investigative Research & Reporting, Carvana: A Father-Son Accounting Grift For The Ages.

NOVEMBER 18, 2022 — 1,500 EMPLOYEES TARGETED

The company is laying off about 1,500 people, or 8% of its workforce, following a plunge in the company’s stock, a weakening used vehicle market, and concerns around the company’s long-term trajectory, according to an email from CEO Ernie Garcia.

Hey Everyone,
Today is a difficult day. The world around us has continued to get tougher, and to do what is best for the business, we have to make some painful choices to adapt.
These changes include adjusting the way we work together, and taking on less while channeling more of our focus to our most important and impactful projects.
They also include reducing costs and getting more efficient across the business. Those choices are hard. They require work. But they aren’t painful.
The painful choice is to say goodbye to members of our team who we all know and care about. Today we are reducing the size of our team by approximately 1,500 people, which represents about 8% of our company.
These reductions impact many Corporate and Technology teams as well as some Operations teams where we are eliminating roles, locations, or shifts to match our size with the current environment.
In the next 30 minutes, we will be sending emails to everyone in Corporate and Tech, letting you know whether or not you are impacted by today’s changes, while those in Operations groups or field roles will be meeting with managers in the next couple of hours. Everyone will learn exactly where their role and team stand today.

May 24, 2022 — Original post…

Tempe, Arizona-based Carvana, an online used car retailer known for its multi-story car vending machines, has announced a restructuring that will see the rearrangement of its operational hubs leading to a mass layoff event impacting at least 2,500 employees nationwide and mostly affecting those in operational positions within Carvana.

According to Carvana CEO Ernie Garcia...

"Recent macroeconomic factors have pushed automotive retail into recession. While Carvana is still growing, our growth is slower than what we originally prepared for in 2022, and we made the difficult decision to reduce the size of certain operations teams to better align with the current needs of the business"
“It has always been the right move to start building for growth well ahead of when we expect it to show up. This strategy worked for us every year until this one."
I wish the burden were shared more evenly across the company, but our operations teams have grown the most over the last several months and are therefore furthest out of balance with the sales we are seeing.
"Saying goodbye to any team member is not a decision we take lightly and we aim to be transparent, thoughtful and supportive throughout this process, including providing meaningful assistance, resources and support to impacted team members.
"We believe these decisions, while extremely difficult, will result in Carvana restoring a better balance to our operations and facilitate the company returning to efficient growth on its mission to change the way people buy and sell cars."

A statement filed with the Securities and Exchange Commission explains the situation...

"On May 10, 2022, Carvana Co. announced a workforce reduction of approximately 2,500 employees primarily in operational groups in connection with its previously announced plans to better align staffing and expense levels with sales volumes."
"In connection with these right-sizing initiatives, over the next several weeks Carvana will be transitioning operations away from its Euclid, OH IRC and a few logistics hubs."