Lucid to lay off 18% of its workforce

Lucid Layoff
EV Startup Layoff

Lucid, American EV startup has decided to layoff 18% of its workforce which accounts to around 1300 employees. The layoff comes as a part of restructuring plan. Some top level executives too would be part of layoffs say sources.

In a mail to all employees CEO Peter Rawlinson said, “Earlier today, I announced the difficult decision to reduce our workforce at Lucid. Given evolving business needs and productivity improvements, we are reducing the size of our organization by approximately 18%, which will affect Lucid employees and contractors. This action is aligned with the cost discipline announcement we made in late February when we reported earnings. We are also taking continued steps to manage our costs by reviewing all non-critical spending at this time.”

Further he also said, “We would not have the best EV on the market without the collective efforts of all of our teams, which is a direct result of your tremendous perseverance, resourcefulness, and teamwork. I want to express my deep personal gratitude to everyone who has contributed up to this point and to the teams that will help advance our mission going forward.”

Not just EV or Auto Companies but corporations all over the United States are bracing for recession by laying off some part of their workforce. Rivian, another EV startup had declared last month that it are laying 6% of the workforce as part of cost cutting.

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