CEO Peter Rawlinson stated the company aims to optimize resources for future success and growth, focusing on achieving ambitious goals while remaining vigilant about costs.
The restructuring involves cuts to both full-time and contract workforces, including leadership and mid-level management, but excludes hourly manufacturing and logistics employees.
Lucid Motors' restructuring aligns with a trend in the electric vehicle industry, as companies like Tesla have also undergone significant staff cuts due to slowing growth.
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