Lucid Cuts 18% of Staff, Eliminates 2nd EV Shift Under New CEO
Updated
Updated · TechCrunch · Jun 22
Lucid Cuts 18% of Staff, Eliminates 2nd EV Shift Under New CEO
3 articles · Updated · TechCrunch · Jun 22
Summary
About 1,500 Lucid workers — 18% of the workforce — are being cut, and the company has scrapped the second production shift at its Casa Grande, Arizona, EV plant.
Lucid said the restructuring will align production with expected demand in a cooling U.S. EV market, with annualized savings of about $158 million against roughly $32 million in severance costs.
The move comes just four months after a 12% staff reduction and includes full-time employees, contractors and hourly production workers; Lucid expects the overhaul to finish by the third quarter.
Silvio Napoli is reshaping management as well: interim CEO Marc Winterhoff has left, and Lucid eliminated the chief operating officer role it had said he would keep.
The cuts land as Lucid prepares its sub-$50,000 Cosmos SUV and a San Francisco robotaxi launch with Uber and Nuro, while more than a dozen top executives have exited over two years.