June 21, 2024

Lucid’s laying off 18 percent of its workers

Photo of the Lucid logo on the back of an Air sedan.
Photograph by Tim Stevens for The Verge

Lucid, the EV startup driving the Air sedan that competes with the Tesla Design S, has announced that it’s laying off all around 1,300 staff, or 18 p.c of its workforce, inside the up coming couple months. In accordance to an email from CEO Peter Rawlinson, which was connected to a regulatory filing, the cuts will influence personnel and contractors “in practically every single group and level, such as executives.”

Rawlinson suggests workforce will hear much more about the layoffs in excess of the up coming three days, and the submitting says the restructuring need to be comprehensive “by the conclude of the second quarter of 2023.” The e-mail claims that employees who are permit go will get “career resources, Lucid-paid health care protection continuation, and acceleration of equity,” and the…

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