"EV startup Lucid is cutting 12% of US employees, according to an email interim CEO Marc Winterhoff sent to unaffected employees on Friday, which Business Insider has seen. Winterhoff said the cuts would exclude hourly production employees in manufacturing, logistics, and quality. "This difficult but necessary decision was made to improve organisational effectiveness and optimize our resources as we continue on our path toward profitability," he wrote."
"A Lucid spokesperson told Business Insider the cuts would not impact the company's hourly production workforce in Arizona, adding that the cuts were designed to "streamline" the organisation as it seeks long-term growth and margin improvement. "We are grateful for the contributions of all impacted employees and are providing resources, benefits, and support to assist them through this transition," they said."
Lucid Motors is implementing a 12% reduction of its U.S. workforce while excluding hourly production employees in manufacturing, logistics, and quality. Interim CEO Marc Winterhoff said the cuts aim to improve operational effectiveness and optimize resources as the company pursues profitability. A company spokesperson said the reductions will not affect the Arizona hourly production workforce and described the moves as a streamlining to support long-term growth and margin improvement. The company reported a nearly $1 billion net loss in November and faces falling EV sales after the end of the $7,500 tax credit; Q4 earnings are scheduled next week. Impacted employees will receive resources, benefits, and support.
Read at Business Insider
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