Lucid to lay off 1,300 employees in restructuring

Lucid Group, the U.S. automaker that produces the luxury all-electric Air sedan, is cutting its workforce by 18% as part of a restructuring, the company disclosed in a regulatory filing.
The layoffs, which will affect 1,300 employees, will be completed by the end of the second quarter. Lucid expects to incur about $24 million to $30 million in charges connected with its restructuring plan, namely due to severance payments, employee benefits and stock-based compensation. The layoffs will be across the organization and will include executive positions.
CEO and CTO Peter Rawlinson said in an emai

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