Lucid Motors announces plans to cut 400 jobs; here’s what we know

CASA GRANDE, AZ (AZFamily) — Electric vehicle manufacturer Lucid Motors has announced plans to cut about 6% of the workforce, or about 400 jobs, in a new restructuring plan filed with the federal government.

In the 8-K filing with the U.S. Securities and Exchange Commission, which was later obtained by Arizona’s Family, the company said that those layoffs would occur by the end of the third quarter of 2024.

“The reduction in force will not impact our hourly manufacturing and logistics workforce,” said company CEO Peter Rawlinson in a publicized email.

Still, company officials told Arizona’s Family that 60 salaried workers statewide were impacted by the downsizing, but emphasized no production workers were affected.

The carmaker has struggled since opening over the years to make a profit. In 2023, Lucid announced a reduction of over 900 employees companywide.