Elective vehicle-maker Rivian is laying off hundreds of workers in its service and customer organization.

A company spokesperson told FOX Business that the job cuts represent less than 2% of Rivian’s workforce, which totaled about 15,200 employees at the end of 2025. Workers affected by the layoffs may apply for other open roles at the company.

“We recently restructured a handful of teams within Rivian as we work to profitably scale our business,” the spokesperson said.

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The job cuts took effect on Tuesday and affected Rivian’s service and customer division, which is responsible for sales and marketing duties, as the company looks to restructure its teams to grow efficiently while rolling out a new model.

The Wall Street Journal first reported the layoffs.

Rivian recently conducted multiple rounds of layoffs in the last year while it prepared for the launch of the R2 SUV, which factors heavily into the EV-maker’s roadmap for future products.

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Ticker	Security	Last	Change	Change %
RIVN	RIVIAN AUTOMOTIVE INC.	16.23	-0.04	-0.22%

It cut over 600 jobs, or 4.5% of its workforce, in October amid softer demand for its vehicles following the expiration of EV tax credits in October.

The R2 officially debuted last week with a variant that had a larger number of optional add-ons for a starting price around $58,000 – while the automaker is planning to release more affordable versions in the future.

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The company is hoping that the lower-cost model will broaden demand and strengthen its sales outlook as it strives for profitability.

Rivian has said that it no longer expects to meet its 2027 adjusted core profit target as it ramps up spending on research and development to accelerate its autonomous driving roadmap.

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Reuters contributed to this report.

President Donald Trump on Friday morning said he is meeting in the Situation Room “to make a final determination” after listing everything that Iran must do for him to approve a deal to end the war.

It was not immediately clear from Trump’s statement on Truth Social which of his make-or-break conditions are already part of a preliminary agreement that U.S. and Iranian negotiators are currently working on to pause the three-month-old war.

Iran “must agree” to never have a nuclear weapon, and the Strait of Hormuz must be “immediately open” to unrestricted shipping traffic, Trump demanded in the post.

He also said that the retaliatory U.S. naval blockade against Iran in the Gulf of Oman “will now be lifted,” though it was unclear if he meant that that step would only be taken if the prior conditions were met.

Trump’s post additionally stated that the enriched material located at the site of last year’s attacks on Iran’s nuclear facilities will be “unearthed” by the U.S. “in close coordination and conjunction with the Islamic Republic of Iran, plus the International Atomic Energy Agency, and DESTROYED.”

“No money will be exchanged, until further notice,” Trump added. “Other items, of far less importance, have been agreed to.”

“I will be meeting now, in the Situation Room, to make a final determination,” he said.

Oil prices fell following Trump’s post.

Iranian officials, in X posts published prior to Trump’s statement Friday morning, appeared defiant toward the U.S., touting their ties with their Middle East neighbors including Oman, a recent target of Trump’s threats.

Oman has reportedly been in talks with Iran about charging vessels transiting the Hormuz Strait, the vital global oil-shipping route that has been largely blocked by Iranian threats since the war began.

Trump, at a Cabinet meeting Wednesday, said that “Oman will behave just like everybody else, or we’ll have to blow ’em up.” On Thursday, Treasury Secretary Scott Bessent warned Oman that the U.S. will “aggressively target” anyone involved in “facilitating tolls” for the strait.

A social media account attributed to Iran’s parliamentary speaker Mohammad Bagher Ghalibaf, in a translated X post Friday morning, offered a cryptic but aggressive readout of the status of the talks.

“We seize concessions not through dialogue, but with missiles; in negotiations, we merely make them understand,” Ghalibaf’s account wrote.

“We have no trust in guarantees or words—only actions are the measure. No action will be taken before the other side acts,” the post said. “The winner of any agreement is the one who is better prepared for war from the day after.”

Iranian Foreign Minister Abbas Araghchi posted that he spoke with his Omani counterpart and “expressed Iran’s solidarity with Oman in face of any threat.”

Read Trump’s full post:

Intuit has laid off 17 per cent of its full-time workforce — or about 3,000 roles worldwide — as it plans to streamline the business and focus on key areas, including AI.

In an email sent to employees on Wednesday, CEO Sasan Goodarzi said the company was “reducing complexity and simplifying our structure” to better deliver on growth and three big goals, including scaling their “AI-native platform.”

“We must accelerate delivering undisputed customer benefits with an unmatched combination of data, AI, and human expertise,” his memo read in part.

The note to employees said the TurboTax parent company would reduce management, co-ordination-heavy and redundant roles, in addition to windind down offices in Reno, Nev., and Woodland Hills, Calif.

Intuit also plans to reduce investments in Mailchimp and says it will reduce overlap between TurboTax and Credit Karma now that those products have been integrated, according to the note.

Intuit told CBC News in an email that it would not detail how many of the impacted jobs were in Canada. The company has an office in Toronto and previously had an office in Edmonton, though that location was scrapped in a 2024 round of layoffs that affected 1,800 people.

Intuit had about 18,200 employees in seven countries ⁠as ⁠of July 31, 2025, according to ​the company’s annual report.

Affected workers were notified Wednesday about their employment status, per the note.

Intuit joins a ‌growing list of companies that have announced job cuts this year, including 16,000 jobs at Amazon, 4,000 at Jack Dorsey’s Block and 15 per cent of the workforce at Pinterest. While these Intuit layoffs weren’t explicitly tied to AI, many other tech companies, including Block and Pinterest, did cite AI as factors behind the cuts. 

The company has signed multi-year deals with AI startups Anthropic and OpenAI to integrate their AI models ‌into its software and add Intuit’s personalized tax, finance, accounting and marketing capabilities into Claude and ChatGPT.

The layoffs came shortly before Intuit released third quarter results, where it reported that it expects to pull in between $21.34 billion US and $21.37 billion US in annual revenue — up from its earlier projection of $21 billion US to $21.19 billion US. 

The job cuts will also cost the company about $300 million US in restructuring charges, according to Reuters.

Roughly 1,400 people across Nike’s Global Operations team will be laid off, the company announced Thursday.

In a memo to employees, Chief Operating Officer Venkatesh Alagirisamy said the cuts will primarily affect Nike’s technology division and span North America, Asia and Europe, representing just under 2% of the company’s global workforce.

“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”

The announcement follows a series of recent job cuts as Nike restructures its operations.

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In January, the company said it would cut 775 jobs as part of an automation push at distribution centers. 

In February 2024, Nike announced plans to reduce its workforce by about 2%, or more than 1,600 employees, and a few months later, in August, said it would cut less than 1% of corporate staff as part of a broader turnaround effort under CEO Elliott Hill.

Shares rose about 0.5% in after-hours trading, though Nike stock has lost more than half its value over the past three years.

According to Alagirisamy’s memo, the layoffs are aimed at streamlining supply chains for materials, footwear and apparel, and centralizing technology operations in two hubs: Beaverton, Oregon, and the Nike India Technology Center.

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Nike also plans to move some Converse manufacturing and engineering operations closer to factory partners.

“These changes are meant to make the company less complex and more responsive,” Alagirisamy said. “As we look ahead, that means simplifying parts of how we operate, using more advanced automation where it helps us work better, and building an even stronger end-to-end foundation for future growth.”

Ticker	Security	Last	Change	Change %
NKE	NIKE INC.	44.78	-0.90	-1.97%

Hill, who became CEO in 2024, has pledged to refocus the Nike brand on core sports, such as running and soccer, while accelerating new product launches.

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Nike forecast a 2% to 4% drop in sales this quarter, with China, a key market, expected to decline about 20%, the company said.

Nike referred FOX Business to Alagirisamy’s memo when asked for comment.

FOX Business’ Eric Revell and Reuters contributed to this report.

Snap on Wednesday announced plans to lay off roughly 1,000 employees as the tech company adopts artificial intelligence (AI) and looks to streamline its operations.

The parent company of Snapchat will also close over 300 open roles as part of its workforce restructuring, which comes after Irenic Capital Management pushed Snap to optimize its portfolio and performance. The firm is an activist investor with an economic interest of roughly 2.5% in the company.

Snap explained that advancements in AI are helping it streamline operations and function with smaller teams as AI generates over 65% of new code, while the company assigns more critical work to focused teams and AI agents.

The tech company had about 5,261 full-time employees as of December, and the layoffs will affect about 16% of the company’s full-time staff.

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Snap’s stock rose nearly 8% Wednesday amid the news, leaving shares down about 25.7% year to date despite a 29% increase over the last month.

The company expects to cut more than $500 million in annualized expenses by the second half of the year, driven significantly by the recently announced layoffs, as well as broader efforts to reduce operating costs and stock-based compensation, CEO Evan Spiegel said. He asked employees in North America to work from home on Wednesday.

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Ticker	Security	Last	Change	Change %
SNAP	SNAP INC.	6.04	+0.44	+7.86%

Snap anticipates $95 million to $130 million in layoff-related charges, most of which will fall in the second quarter, according to a regulatory filing.

Snap’s layoffs come after the company invested heavily in its augmented reality glasses unit, known as Specs. It is planning to launch the product this year.

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Irenic Capital has urged Snap to either spin off or shut down the business unit, which has received $3.5 billion in investment, as a means of conserving cash while the company pursues broader cost cuts.

“Cutting costs may appease an activist in the near term and give long-suffering shareholders some relief, but whether it really leaves the company with a defensible business model and competitive position that it can defend, develop and turn into profits and cash flow is still unclear,” said Russ Mould, investment director at AJ Bell.

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Reuters contributed to this report.

Chegg Inc., a Santa Clara-based online learning platform, said Monday it will cut about 45% of its workforce – roughly 388 employees – as it confronts what it calls “the new realities of AI and reduced traffic from Google to content publishers.”

In its official statement, the company said the restructuring plan reflects “a significant decline in Chegg’s traffic and revenue,” which it has attributed to shifts in generative AI and changing search patterns.

Chegg said the layoffs will reduce reduce 2026 non-GAAP expenses by about $100 million to $110 million and result in charges of $15 million to $19 million, mostly in cash severance. 

It expects to provide more information during its third-quarter earnings call on Nov. 10.

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Executive Chairman Dan Rosensweig will return as president and chief executive officer, effective immediately, as part of the overhaul. Nathan Schultz, who succeeded Rosensweig in 2024, will step down and serve as an executive advisor to Rosensweig and the board.

“As I return to the CEO role, I’m confident Chegg has a bright future, and I look forward to exploring all paths to drive growth and enhance shareholder value,” Rosensweig said in the release.

The company confirmed it will remain an independent public company after months of reviewing options, including a sale or going private.

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“After thoughtful consideration of multiple proposals, the Board of Directors unanimously determined that remaining an independent public company offers the best opportunity to maximize long-term shareholder value,” the company said.

The company said AI adoption and reduced Google search traffic have caused a significant drop in traffic and revenue. 

“The new realities of AI and reduced traffic from Google to content publishers have led to a significant decline in Chegg’s traffic and revenue,” the company stated.

To adapt, Chegg said it will streamline operations to lower costs and invest more in what it calls its fastest-growing area – the $40 billion-plus ‘skilling market.’” 

Chegg said it plans to expand beyond traditional study help into a “skilling-focused business-to-business organization” offering programs in…