Lucid Motors CEO Peter Rawlinson poses with a Lucid Air after ringing the opening bell as Lucid started buying and selling on the Nasdaq inventory alternate in 2021. (Reuters)
Electrical-vehicle maker Lucid Group Inc is planning to put off about 18% of its workforce, Insider reported on Tuesday, citing sources conversant in the matter and an inside memo.
The corporate’s shares fell greater than 7%.
Lucid, which makes luxurious electrical automobiles, will talk particulars of the layoffs within the subsequent three days, in accordance with the report.
On the finish of final 12 months, the corporate had about 7,200 staff. If that is the present stage, then the layoff would quantity to a discount of about 1,300 staff.
Lucid didn’t instantly reply to a Reuters request for remark.
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