Lucid slashes US workforce amid cost-cutting push
Key takeaways
- The company said the restructuring is expected to generate about $158 million in annualized cost savings.
- As part of the changes, Lucid also confirmed that its chief operating officer (COO), Marc Winterhoff, is leaving the company effective immediately.
- The automaker also said it will eliminate the second production shift at its AMP-1 facility in Arizona, a move that is expected to further align output with current demand.
Lucid slashes US workforce amid cost-cutting push Lucid slashes US workforce amid cost-cutting push Proactive uses images sourced from Shutterstock Proactive Mon, June 22, 2026 at 10:29 PM GMT+7 2 min read LCID Lucid Group Inc (NASDAQ:LCID) is reducing its United States workforce by approximately 18% as part of a broader cost-cutting initiative aimed at improving efficiency and aligning production with demand, the electric vehicle maker announced on Monday.
The company said the restructuring is expected to generate about $158 million in annualized cost savings. The reductions include full-time employees, contractors, and hourly manufacturing staff, according to a filing with the US Securities and Exchange Commission.
As part of the changes, Lucid also confirmed that its chief operating officer (COO), Marc Winterhoff, is leaving the company effective immediately. The COO role has been eliminated. Winterhoff previously served as interim CEO until Silvio Napoli assumed the position on June 1.