EV Distress: Layoffs At Lucid
Posted on 05/28/2024
Lucid Group, Inc. is a luxury electric vehicle (EV) maker based in Newark, California. Lucid Group is planning to reduce its workforce in the U.S. by 6%, or 400 employees. This includes executive positions, however, front line labor will not be impacted. EV demand has not met expectations worldwide, from a buyer perspective or even in rentals. Lucid will remain an employer of some size, with over 6,000 employees following the cuts.