Lucid is laying off roughly 1,500 employees, or about 18% of its current workforce, just four months after a 12% reduction, and has eliminated the second production shift at its Casa Grande, Arizona factory. The company produced 5,500 vehicles in the first quarter of 2026 but delivered just over 3,000, prompting it to pull its guidance. Executive turnover continues with the departure of former interim CEO and COO Marc Winterhoff, whose position was eliminated, adding to more than a dozen top-level exits in two years. Lucid’s net loss in 2025 was $2.7 billion, its operating loss widened to $3.5 billion, and cash burn reached $3.8 billion. The cost-cutting moves are expected to save about $158 million annually but cost $32 million in severance.
Lucid Group IncLucid announces 18% workforce layoffs, production shift cut, and widening losses with $3.5B operating loss and $3.8B cash burn.
Tesla Inc