Lucid Motors said it is laying off about 18% of its U.S. workforce, or around 1,500 workers, in a filing with the Securities and Exchange Commission (SEC) on Monday.
The EV maker told Fast Company that today’s reductions are across many groups, including manufacturing. The luxury electric vehicle automaker had some 9,000 global employees as of December 31, CNBC reported.
The layoffs are part of a restructuring and cost-cutting plan, which the company estimates will save the EV maker $158 million annually. The move comes just four months after the Tesla rival cut 12% of its staff, and includes eliminating the second production shift of its Arizona factory.
The latest cuts will affect not only full-time employees, but also contractors and hourly workers, per Reuters.
Shares of the Lucid Group, Inc (Nasdaq: LCID) were down about 4.5% in midday trading on Monday at the time of this writing.
“These are difficult decisions taken to align production with demand, reduce inventory, and adapt to declining market conditions,” a Lucid spokesperson told Fast Company in a statement. “They are part of a broader effort to simplify the company, sharpen execution, and position Lucid to become more competitive over time.”
The spokesperson also confirmed the company’s most recent executive shakeup: Chief operating officer Marc Winterhoff, who recently served as interim CEO, has left the company. That departure comes just about a month after new CEO Silvio Napoli took over at the beginning of the month.
Like many EV makers, Lucid has been struggling with plummeting sales in the American market. The maker of the Lucid Air vehicles and Gravity SUV has been plagued in recent months with production and delivery issues affecting its Gravity SUV, and recently suspended its full-year forecast after missing first-quarter earnings estimates in May. At issue: high costs and even higher competition in the EV market, as customers demand wanes amid less favorable regulation under the Trump administration.
Lucid reported a Q1 2026 revenue of $282.5 million, missing analyst expectations of $389.2 million.
The layoffs come just days after electric SUV maker Rivian cut hundreds of jobs in the name of “profitability.”
