Lucid Group is cutting approximately 18% of its U.S. workforce through a major restructuring plan. The layoffs impact full-time employees, contractors, and hourly production workers.
The company is eliminating one production shift at its primary manufacturing facility in Arizona. This adjustment aligns vehicle output with anticipated market demand.
Lucid also eliminated the Chief Operating Officer position. This leadership change resulted in the immediate departure of COO Marc Winterhoff.
The restructuring aims to generate approximately $158 million in annualized cost savings. These actions intend to streamline the organization and reduce overall operating expenses.