Lucid lays off 18% of staff, its second deep cut in four months

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1. 1h ago

   Lucid Cuts US Workforce by 18%

   Lucid Group Inc. is reducing its U.S. staff by roughly 18%, resulting in about 1,500 job losses. CEO Silvio Napoli is implementing these cuts to align production with demand and improve cash flow. The company is also removing a production shift at its Casa Grande plant.

   What's confirmed:

   • Lucid is reducing its U.S. workforce by roughly 18%.
   • The cuts affect approximately 1,500 employees.
   • The company is eliminating a production shift at its Casa Grande plant in Arizona.
   • This is the second round of layoffs in roughly four months.
   • CEO Silvio Napoli is leading the effort to simplify the company and match inventory to demand.
   confidence 100%
2. 5d ago

   Lucid Cuts 18% of Staff in Second Major Layoff of the Year

   Lucid is reducing its U.S. workforce by roughly 18%, affecting about 1,500 employees. New CEO Silvio Napoli is implementing these cuts to simplify the company and align production with demand. The move includes eliminating a production shift at the Arizona factory.

   What's confirmed:

   • Lucid is laying off roughly 18% of its U.S. workforce, which equals approximately 1,500 jobs.
   • This is the second major workforce reduction in four months, following a previous 12% cut.
   • COO Marc Winterhoff is departing the company effective immediately.
   • The company is eliminating a production shift at its Arizona factory to align production plans with anticipated demand.
   • CEO Silvio Napoli is restructuring the company to simplify the organization.

   Still unconfirmed:

   • The company expects $158 million in annual savings from these cuts.
   • The layoffs are occurring ahead of an SUV launch.
   confidence 95%