Lucid Motors has announced it will lay off approximately 1,500 workers, which represents 18 percent of its workforce. This decision comes just three months after the company showcased a new midsize electric vehicle platform and began selling its Gravity SUV and improved Air sedan. Earlier in February, Lucid had already reduced its workforce by 12 percent. According to a filing with the Securities and Exchange Commission, the layoffs aim to streamline the company's organizational structure, optimize operating expenses, and align production plans with anticipated demand.
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Lucid Motors announces layoffs of 1,500 employees
Lucid Motors is laying off about 1,500 employees, constituting 18 percent of its workforce, as part of efforts to achieve profitability. This follows a previous reduction of 12 percent earlier in the year. The company cites the need to streamline operations and align production with demand as reasons for the layoffs.
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Lucid lays off 1,500 workers in second big cut of the year
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Lucid Motors announces layoffs of 1,500 employees