Lucid Motors’ new CEO cuts 18% of staff to ‘simplify the company’
Key takeaways
- Lucid Motors is laying off 18% of its workforce, or around 1,500 employees, just four months after the EV maker cut 12% of its staff.
- The cuts are part of a bid by Lucid s new CEO, Silvio Napoli, to simplify the company, sharpen execution, and position Lucid to become more competitive over time, the company said in a statement.
- Marc Winterhoff, who served as interim CEO for more than a year until Napoli took the job, has also left the company.
Lucid Motors is laying off 18% of its workforce, or around 1,500 employees, just four months after the EV maker cut 12% of its staff. The company said on Monday that it has also eliminated the second shift of EV production at its factory in Casa Grande, Arizona.
The cuts are part of a bid by Lucid s new CEO, Silvio Napoli, to simplify the company, sharpen execution, and position Lucid to become more competitive over time, the company said in a statement. The lay-offs come as the electric vehicle market in the United States has cooled, with major automakers pulling electric models from their own product plans.
Marc Winterhoff, who served as interim CEO for more than a year until Napoli took the job, has also left the company. Winterhoff, Napoli, and the company had all previously said that Winterhoff would stay on as chief operating officer after stepping down as interim CEO. In a regulatory filing, Lucid Motors said it has eliminated the chief operating officer position entirely.