Lucid Cuts 12% of US Workforce After EV Demand Slows
Lucid is reducing its US workforce by 12% in response to a significant slowdown in electric vehicle demand. The cuts span manufacturing, engineering and support functions as the company seeks to streamline operations and manage costs.
1. Workforce Reduction
Lucid is eliminating 12% of its US workforce, impacting manufacturing, engineering and support roles. The reductions are scheduled to roll out over the next few weeks as teams adjust to lower order volumes.
2. Demand Slowdown
Recent order intake and delivery growth for Lucid’s luxury electric sedan have fallen short of internal forecasts, prompting management to reassess staffing needs. Market feedback points to heightened competition and softer consumer spending on high-end EVs.
3. Cost Optimization
Management says the headcount cuts will reduce monthly operating expenses and extend the company’s cash runway. This move aligns with broader efforts to improve profitability ahead of scaling production.