Bay Area electric car maker Lucid Motors is laying off hundreds of employees in a 12% reduction of its workforce.
The Newark-based company said the layoffs would “improve operational effectiveness and optimize our resources” as the company seeks profitability. It had 6,800 employees at the end of 2024, suggesting that the cuts could affect around 800 workers.
Hourly production workers in manufacturing, logistics and quality control weren’t affected, interim CEO Marc Winterhoff wrote in a memo to employees, Business Insider reported…