EV maker Lucid to cut about 18% of US workforce, COO Winterhoff exits
The automaker expects $158 million in annualized savings as it aligns production with demand and completes the restructuring by the third quarter, Lucid said.
- On Monday, Lucid Group announced it is cutting approximately 1,500 U.S. workers, or 18% of its workforce, while eliminating the COO role and halting a production shift at its Casa Grande, Arizona factory.
- CEO Silvio Napoli initiated the restructuring to "simplify the company, sharpen execution, and position Lucid to become more competitive over time," aligning production with anticipated demand toward profitability.
- Lucid expects the measures to generate $158 million in annualized savings, though it anticipates $32 million in severance and transition costs following February's 12% workforce reduction.
- COO Marc Winterhoff is departing the company effective immediately as Lucid confirmed it has eliminated the COO position entirely following a string of high-profile executive exits.
- Lucid's turnaround strategy hinges on the upcoming Cosmos SUV, expected to start around $50,000, as the automaker pursues profitability amid a cooling United States electric vehicle market.
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30 Articles
Lucid Motors Fires 18% of Workforce and Axes COO Marc Winterhoff as EV Market Slowdown Hits Hard
Lucid Group has cut nearly a fifth of its US workforce and scrapped the chief operating officer role altogether, the clearest sign yet that the California‑based electric vehicle maker is racing to stay afloat in a slowing market. The company disclosed the cuts in a regulatory filing with the US Securities and Exchange Commission on Monday, 22 June 2026. It is Lucid's second mass lay‑off in four months and comes barely three weeks after Silvio Na…
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BizTocEV Maker Lucid Announces 1,500 Job Cuts
Luxury electric vehicle manufacturer Lucid Group has announced a major restructuring plan that will reduce its U.S. workforce by approximately 1,500 employees, or about 18% of its staff, as the company intensifies efforts to improve efficiency and move closer to profitability. The restructuring includes the elimination of the chief operating officer position and operational changes at Lucid's manufacturing facility in Casa Grande, Arizona. Compa…
Lucid Slashes 18% of Workforce as EV Maker Extends Cost-Cut Plan
Lucid Group Inc. is slashing its workforce for at least the second time this year and eliminating a top executive role as part of a cost-reduction plan in the face of wavering demand for its electric vehicles.
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