Lucid Slashes 18% of Workforce Under New CEO as Cosmos Push Looms
Lucid Motors is cutting about 1,500 jobs (18%) and eliminating a second production shift at its Casa Grande, AZ plant as part of a broad restructuring under new CEO Silvio Napoli. The move follows a 12% layoff earlier this year and underscores ongoing demand and execution challenges in a cooling US EV market. The company expects roughly $158 million in annualized savings (with about $32 million in severance) and is banking on its Cosmos SUV to restore profitability, as leadership turnover continues to unfold.