Luxury EV Maker Lucid Cuts 12% Of Workforce In Profitability Push

Luxury EV maker Lucid Group (NASDAQ: LCID) is laying off 12% of its global workforce to streamline operations and enhance profitability after a challenging year. This reduction, affecting hundreds of employees but excluding hourly workers at its Arizona facility, aims to improve efficiency and boost gross margins. The move follows production issues, supply-chain pressures, and executive turnover in 2025, as Lucid prepares to launch a more affordable mid-size EV platform and continues ramping up production of its Gravity SUV.

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