Lucid Group plans to reduce its workforce by 18%. This reduction includes full-time employees, contractors, and hourly production workers. The company aims to streamline its structure and optimize operating expenses. Lucid also eliminated a production shift and the Chief Operating Officer position. These changes are expected to result in $158 million in annualized cost savings.
Newark, California
https://www.kron4.com/news/technology-ai/lucid-layoffs-bay-area-ev-maker-cuts-18-of-workforce/