Rivian Automotive, Inc. (NASDAQ: RIVN) reported a wider-than-expected loss for its fourth quarter and announced plans to reduce its salaried workforce by around 10% to help further improve costs.
Rivian reported fourth-quarter revenue of $1.32 billion, which beat a Street consensus estimate of $1.26 billion, according to data from Benzinga Pro. The company reported a loss of $1.36 per share, which missed a Street estimate of a loss of $1.32 per share.
The company said it sees production of 57,000 vehicles in 2024. It sees adjusted EBITDA of a loss of $2.7 billion for …
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