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FedEx, Rivian, DraftKings join U.S. companies cutting jobs

ASSOCIATED PRESS
                                A Rivian logo is shown on one of the company’s electric pickup trucks, in December 2021, in Atlanta. Rivian Automotive and package delivery company FedEx are among the latest companies to announce job cuts today.
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ASSOCIATED PRESS

A Rivian logo is shown on one of the company’s electric pickup trucks, in December 2021, in Atlanta. Rivian Automotive and package delivery company FedEx are among the latest companies to announce job cuts today.

ASSOCIATED PRESS
                                A FedEx worker places a package on a trolley after a cold front packing subfreezing temperatures and light snow swept over the intermountain in November 2022, in Denver. The package delivery company and SUV maker Rivian Automotive are among the latest companies to announce job cuts today.
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ASSOCIATED PRESS

A FedEx worker places a package on a trolley after a cold front packing subfreezing temperatures and light snow swept over the intermountain in November 2022, in Denver. The package delivery company and SUV maker Rivian Automotive are among the latest companies to announce job cuts today.

ASSOCIATED PRESS
                                A Rivian logo is shown on one of the company’s electric pickup trucks, in December 2021, in Atlanta. Rivian Automotive and package delivery company FedEx are among the latest companies to announce job cuts today.
ASSOCIATED PRESS
                                A FedEx worker places a package on a trolley after a cold front packing subfreezing temperatures and light snow swept over the intermountain in November 2022, in Denver. The package delivery company and SUV maker Rivian Automotive are among the latest companies to announce job cuts today.

FedEx, Rivian Automotive, and DraftKings have joined a growing list of U.S. corporations announcing job cuts.

FedEx sent an announcement to employees today informing them that the package delivery company is reducing the size of its officer and director team by more than 10% and consolidating some teams and functions.

“Unfortunately, this was a necessary action to become a more efficient, agile organization,” CEO Raj Subramaniam said in a prepared statement.

Rivian said that it is cutting 6% of its workforce, or about 840 jobs. The electric truck and SUV maker currently has a headcount of approximately 14,000.

Rivian CEO RJ Scaringe said in an email that teams across the company would be impacted, but that the reductions would not affect manufacturing jobs. The company recently added a second shift at its plant in Normal, Illinois.

“Today is a hard day. Please take the time you need to process this news and the changes,” Scaringe wrote.

Scaringe said managers would be in touch with their teams by Thursday to answer questions and that an all hands meeting is scheduled for Friday to share more details about the changes.

Also today, the online sports betting company DraftKings said that some teams within the company are being reorganized in a bid to increase efficiency, leading to about 140 job cuts.

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