EV maker Lucid, for the second time this year, has announced a round of job cuts aimed at advancing its “path toward profitability and positive cash flow generation.”
The company said it will reduce its current U.S. workforce by approximately 18 percent, including full-time employees, contractors and hourly production workers in manufacturing. Part of the plan includes eliminating the second shift of production at its AMP-1 factory in Arizona.
The cuts are reaching the C-suite, too. Lucid’s Chief Operating Officer, Marc Winterhoff, will be leaving the company after his position was eliminated. But he will receive continued security support and he gets to keep his company vehicle.
Lucid said it expects the restructuring to provide annualized cost savings of approximately $158 million while incurring cash charges of approximately $32 million related to severance, employee benefits and employee transition.
Lucid’s latest round of job cuts comes after the company earlier this year announced a 12 percent reduction of its U.S. workforce, excluding hourly production workers in manufacturing, logistics and quality. At the time, the company said the move would reduce operating expenses before the start of production of the Midsize platform and expansion into the robotaxi market.
In May, Lucid reported results for the first quarter, during which the company produced 5,500 vehicles, up 149% from the first quarter of 2025. It said it delivered more than 3,000 vehicles in the quarter and generated $282.5 million in revenue, up 20% year over year.
