Analysis
Lucid Motors is cutting roughly 1,500 jobs -- about 18% of its workforce -- just four months after eliminating 12% of staff, according to TechCrunch and Ars Technica. The reductions are the first major action by Silvio Napoli, who formally became CEO on June 1, and the company framed them as part of an effort to 'simplify the company' and align production with anticipated demand.
Lucid also confirmed it has eliminated the second production shift at its Casa Grande, Arizona plant, and said the moves should generate annualized savings of around $158 million. The company has also shed senior leadership: COO Marc Winterhoff departed as the COO role itself was eliminated, part of a broader pattern of executive turnover.
“The company has also shed senior leadership: COO Marc Winterhoff departed as the COO role itself was eliminated, part of a broader pattern of executive turnover.”
Napoli, who spent his career at Swiss elevator giant Schindler Group, was installed with the backing of Saudi Arabia's Public Investment Fund, which committed $750 million in fresh capital to support the transition. The restructuring underscores how punishing luxury-EV economics remain: even with deep-pocketed state backing, Lucid is repeatedly resizing itself to match demand that has consistently fallen short of its manufacturing ambitions.
