Lucid Motors’ new CEO cuts 18% of staff to ‘simplify the company’

Live updates

1. 1h ago

   Lucid CEO Silvio Napoli Overhauls C-Suite Following 18% Staff Cuts

   New CEO Silvio Napoli is replacing the CFO, CTO, and most of the executive team to restructure the company. This follows a reduction of the U.S. workforce by 18% and the removal of 2026 guidance. The company is also cutting production shifts in Arizona due to slower than expected Gravity SUV sales.

   What's confirmed:

   • CEO Silvio Napoli is replacing the CFO, CTO, and most of the C-suite.
   • Lucid is cutting its U.S. workforce by 18%.
   • COO Marc Winterhoff is departing effective immediately.
   • The company is eliminating a production shift at its Arizona factory.

   Still unconfirmed:

   • The layoffs target $158 million in annual savings.
   • The layoffs represent roughly 1,500 jobs.
   • Gravity SUV sales are not taking off as expected.
   confidence 90%
2. 5d ago

   Lucid Motors Cuts 18% of U.S. Workforce to Simplify Company

   Lucid Motors is laying off roughly 18% of its U.S. staff as part of an extended cost-cutting plan. This represents the company's second major round of job cuts this year. The restructuring includes the exit of COO Marc Winterhoff.

   What's confirmed:

   • Lucid is laying off roughly 18% of its U.S. workforce.
   • The company is cutting staff to "simplify the company".
   • COO Marc Winterhoff has left the company.
   • This is the second round of significant layoffs for the company this year.
   • The company's stock price fell following the announcement.

   Still unconfirmed:

   • Lucid laid off 1,500 workers in this round of cuts.
   • Hundreds of workers in Arizona are expected to be laid off.
   • Marc Winterhoff was fired weeks after returning to his role.
   confidence 90%