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Lucid laying off 18% of its employees, reducing workforce as a result.

Lucid, an electric vehicle (EV) startup that produces the Air sedan to compete with Tesla Model S, has announced the layoff of around 1,300 employees, which is equivalent to 18% of its workforce, in the next few months. The cuts are expected to impact people in various levels of the organization, including executives. Nonetheless, Lucid’s CEO, Peter Rawlinson, stated that affected employees and contractors will receive career resources and Lucid-paid healthcare coverage continuation. Rawlinson also stated that employees will receive more information over the next few days, and restructuring should be completed by Q2 of 2023.

Vaibhav Kulkarni
I am Vaibhav Kulkarni, Blogger By Passion, Civil Engineer By Profession. I am Tech Enthusiast and Travel Lover. I started my journey 3 years back with some ideas and no coding experience. I was always fascinated with technology and its credibility. I firmly believe in "Creating jobs rather than asking for one".