Lucid cuts 18% of US workforce

GlobalData

Tue, June 23, 2026 astatine 6:29 AM CDT 1 min read

Lucid Group plans to trim its US workforce by astir 18% and said main operating serviceman (COO) Marc Winterhoff has near the institution with contiguous effect.

The EV shaper said said the simplification volition impact full-time employees, contractors and hourly manufacturing workers crossed its US operations.

Lucid has besides removed the 2nd accumulation displacement astatine its AMP-1 manufacturing facility.

According to the company, the program is expected to present annualised outgo savings of astir $158m.

Lucid added it expects to grounds currency charges of astir $32m linked to severance payments, worker benefits and modulation support.

It besides expects to substantially implicit the program by the extremity of the 3rd 4th of 2026, taxable to section ineligible and consultation requirements.

In a abstracted disclosure, Lucid said Winterhoff departed aft the COO relation was eliminated.

The institution said the workforce simplification and enforcement departure are portion of its wider effort to beforehand its way towards profitability and affirmative currency travel generation.

It said the restructuring is meant to optimise costs and lucifer accumulation capableness with expected marketplace request portion delivering semipermanent operational efficiencies.

For the 4th ended 31 March 2026, the institution posted a nett nonaccomplishment of $1.02bn, compared with a nett nonaccomplishment of $366.2m a twelvemonth ago.