Lucid Group to eliminate 18% of workforce, Insider reports

Lucid Group told staff during a meeting Tuesday that it is planning to lay off hundreds of employees, Alexa St. John of Insider reports, citing five sources familiar with the matter and a copy of an internal memo viewed by the website. Lucid CEO Peter Rawlinson told employees the company will cut about 18% of its workforce, per the sources and the internal memo. Given Lucid employed approximately 7,200 employees globally as of the end of 2022, that would be about 1,290 employees, St. John points out. Reference Link