Luxury EV Maker Lucid Announces 6 Percent Workforce Cut
By Naveen Athrappully Electric vehicle manufacturer Lucid Motors plans to lay off hundreds of workers as part of a cost control initiative amid weakening EV demand. On May 24, Lucid announced a restructuring plan to “optimize” the company’s operating expenses by reducing its current workforce by roughly 400 employees, or around six percent of the total, according to an SEC filing.
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