electric car brands are restructuring

Try Tesla, Rivian, Arrival: electric car brands are restructuring?

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Electric car manufacturers are bearing the brunt of the crisis. Several of them have had to restructure or lay off employees.

Tesla chose the latter option, as was known after Elon Musk’s comments. The billionaire explained that his company was going to cut 10% of its workforce after he had a ” bad feeling “.

More is known about these layoffs, and these are bigger than the original plan. Musk had promised that only employees would leave the company, but all are affected. Freelancers and temporary workers, whom American law groups together under the status of hourly workers, are also subject to layoffs.

Initially, these hourly workers were to replace employees who had been laid off. Musk’s layoff plan is therefore bigger than expected.

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But Tesla is not the only American electric car manufacturer to be in this situation. Thus, the start-up Rivian could also decide on many layoffs.

RJ Scaringe, CEO of Rivian, has sent an email to all his employees, explaining that he will discuss the subject of possible layoffs this Friday. The firm experienced major production difficulties, causing its stock market value to fall.

Finally, Arrival also planned a restructuring, in a press release. The company wants to start production of its electric van before the fall, and will have to save money to do so. The brand plans to reduce its expenses by 30%, predicting that this could affect 30% of the workforce.

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