Lucid Motors Cuts 1500 Jobs

Lucid Motors is slashing 1500 jobs—18% of its workforce—and shutting down its Arizona factory’s second shift, signaling major restructuring under new CEO Silvio Napoli. These cuts, following a 12% layoff just four months ago, aim to boost competitiveness amid a slowing EV market and include eliminating the COO role, with former interim CEO Marc Winterhoff exiting. Despite the turmoil, Lucid pushes ahead with its affordable Cosmos SUV and a luxury robotaxi launch in San Francisco, expecting $158M in annual savings and wrapping up restructuring by Q3, while paying $32M in severance. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c70306c5f58833d6