Lucid Motors Lays Off 18% of Workforce, Eliminates COO Role
Electric vehicle manufacturer Lucid Motors announced an 18% reduction in its workforce as part of a company simplification effort. This restructuring also included the elimination of the Chief Operating Officer role, previously held by Marc Winterhoff.
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Lucid's goal to 'simplify' the company includes 18% layoffs — and eliminating the COO role entirely
Lucid said it's cutting a production shift to align "production plans with anticipated demand." Its COO is out, too — and won't be replaced. Lucid Motors Lucid Motors plans to lay off around 18% of the company to align "production plans with anticipated demand." The cost-cutting push also reached the C-suite: Lucid has eliminated the COO role entirely. Lucid has experienced a year and a half of exec upheaval since former Tesla engineer Peter Rawlinson stepped down as CEO. In the era of lean...
Read full article →Lucid layoffs: EV maker cuts 18% workforce, eliminates COO Marc Winterhoff's role
Lucid layoffs: EV maker cuts 18% of its U.S. workforce, removes the COO role, and targets $158 million in annual savings amid restructuring.
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