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Lucid slashes 18% of workforce as new CEO overhauls leadership

The luxury electric vehicle maker is cutting 18% of its U.S. staff and eliminating the Chief Operating Officer position entirely. The restructuring, aimed at aligning production with cooling market demand, marks a major shift for the Saudi-backed automaker as it attempts to stabilize operations under new leadership.

Today, 21:08Business Person418 views
Lucid slashes 18% of workforce as new CEO overhauls leadership

The SEC filing confirms that the layoffs affect full-time employees, contractors, and hourly workers at the AMP-1 factory in Arizona, where the company is also cutting a second production shift. Lucid expects these measures to yield approximately $158 million in annualized savings, despite incurring $32 million in restructuring charges. As part of this corporate simplification, COO Marc Winterhoff has departed the company, though he retains his company vehicle and ongoing security support.

This downsizing follows a volatile eighteen months for the automaker, which has seen the resignation of longtime CEO Peter Rawlinson and the exits of several senior executives, including the former SVP of engineering and software Emad Dlala and SVP of strategy Claudia Gast. Chief engineer Eric Bach, fired last November, is currently pursuing a wrongful termination lawsuit against the firm. Silvio Napoli, the former Schindler Group boss who took the helm on June 1, now faces the task of launching the sub-$50,000 Cosmos SUV to compete with Tesla and Rivian. The company remains under pressure to resolve lingering supplier bottlenecks and software complaints, even as its Lucid Air sedan continues to lead the market in efficiency.

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