US EditionCalifornia EV maker Lucid cuts hundreds of jobs in latest blow to industry
- On Friday, Lucid Motors announced a 12% reduction of its U.S. workforce in an internal memo obtained by TechCrunch, citing a push toward profitability and operational effectiveness.
- Amid volatile 2025 market conditions, Lucid cited industry headwinds after the $7,500 federal tax credit ended, reporting a net loss nearly $1 billion.
- Affected staff will receive severance, bonus, continued health benefits and transition support, and with 6,800 full-time employees , cuts likely impact hundreds of roles.
- Lucid reiterated that its core priorities remain unchanged, and will address changes and questions during Monday’s Town Hall ahead of the 2025 financial results next week.
- By 2029, the company expects to be at full capacity after its third round of layoffs since 2023 amid executive turnover and a chief engineer lawsuit, while planning midsize platform production in Saudi Arabia later this year or early 2027.
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Luxury EV Maker Lucid Cuts 12% Of Workforce In Profitability Push - Lucid Group (NASDAQ:LCID), Uber Technologies (NYSE:UBER)
Lucid Group is cutting 12% of its global workforce as the luxury EV maker moves to streamline operations and push closer to profitability after a turbulent year.
DNyuz
evshift.comLucid cuts hundreds of workers in latest blow to EV industry
Lucid Group Inc. is slashing its workforce following a difficult 2025 for the electric vehicle maker, which struggled to boost production in a volatile auto market. The cuts will impact 12% of its global workforce, the automaker said Friday in an emailed statement. Lucid didn’t specify the total number of job losses or current headcount, but the company had 6,800 employees at the end of 2024, suggesting the cuts are in the hundreds. The move was…
Lucid Motors to Cut 12 Percent of US Workforce
Newark, California-based Lucid Motors has started implementing a plan to reduce its U.S. workforce by about 12 percent in an effort to streamline the company and improve growth. A spokesperson confirmed the news to The Epoch Times via email and said the staff reduction is necessary so Lucid can “operate with greater efficiency and deliver on our commitments to gross margin improvement and long-term growth.” “We are focusing on the start of produ…
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