Electric vehicle manufacturer Lucid Group announced Monday that it will cut roughly 18% of its U.S. workforce as part of a broader restructuring effort aimed at reducing costs and improving profitability amidst mounting pressure in the electric vehicle industry.
The company also revealed the departure of Chief Operating Officer Marc Winterhoff, marking another major leadership change during a challenging period for the automaker. The layoffs will affect full-time employees, contractors, and hourly manufacturing workers across the United States. Lucid said it is also eliminating the second production shift at its AMP-1 manufacturing facility in Casa Grande, Arizona, its primary vehicle assembly plant.
