Lucid Group Inc. plans to lay off roughly 18% of staff, which would mean more than 1,000 job cuts, according to a Tuesday report. Insider reported that the...
Lucid Group Inc.
plans to lay off roughly 18% of staff, which would mean more than 1,000 job cuts, according to a Tuesday report. Insider reported that the electric-vehicle maker revealed the plans in an all-hands meeting and internal memo Tuesday, based on at least five sources and viewing the memo. Lucid did not immediately respond when asked to confirm the report. Lucid began mass-producing electric vehicles in 2022, when it lost more than $1.3 billion on revenue of slightly more than $600 million.
plans to lay off roughly 18% of staff, which would mean more than 1,000 job cuts, according to a Tuesday report. Insider reported that the electric-vehicle maker revealed the plans in an all-hands meeting and internal memo Tuesday, based on at least five sources and viewing the memo. Lucid did not immediately respond when asked to confirm the report. Lucid began mass-producing electric vehicles in 2022, when it lost more than $1.3 billion on revenue of slightly more than $600 million.
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