Irvine-based electric vehicle company Rivian slashing jobs for second time this year

IRVINE, Calif. (KABC) — Irvine based Rivian is slashing jobs for the second time this year.

The electric vehicle company will announce about 150 job cuts, citing high interest rates and lower demand.

The prior round of cuts focused on product teams and those working on its commercial electric vehicle business, while the latest move will mostly impact support and back-office jobs.

Meanwhile, Rivian is set to expand in Illinois, where they are receiving more than $800 million worth of tax incentives to expand their Illinois operations as well as $75 million in capital funding.

MORE: Tesla cuts entire Supercharger team in latest round of layoffs