A Bay Area luxury carmaker will deal another massive blow to its workforce this year as it continues to struggle with a path to profitability.
Lucid Group, a Newark-headquartered company known for its Air sedan electric vehicle line, announced in a Securities and Exchange Commission filing on Monday that it plans to lay off 18% of its workforce, including employees, contractors and hourly factory workers. The cuts come only four months after the company slashed 319 Bay Area employees, or 12% of its workforce, and follow cuts in 2023 and 2024, of 1,300 and 400 employees, respectively.
Though February’s cuts largely hit hardware and software engineers and spared hourly factory workers, now the company plans on slashing an entire production shift at its Arizona manufacturing facility. The company has also parted ways with Chief Operating Officer Marc Winterhoff, effectively eliminating that C-suite position entirely.
Monday’s filing notes that Winterhoff qualifies for a severance package and will also get to keep his company car…