Rivian is cutting hundreds of jobs, with the move coming shortly after the launch of its new R2 model. The number of jobs cut is reported to be under 2% of the company's staff, but the exact number is variously stated, with one outlet specifying 300 jobs. The layoffs are seen as part of a bid for profitability, but it is unclear whether the move will strengthen or weaken Rivian's profitability story.