Rivian Automotive Inc. shares fell in early trading after the electric vehicle maker issued a disappointing production forecast and announced another round of job cuts.
The maker of plug-in pickups, SUVs and delivery vans expects to build just 57,000 vehicles this year, in line with last year’s output and well short of analysts’ average estimate for more than 80,000 units. The company said late Feb. 21 it will reduce its salaried workforce by about 10%, its third paring in the last year and a half.
