Electrical automaker Lucid has introduced plans to chop roughly 18% of its workforce. The layoffs quantity to round 1,300 staff and are available alongside information of a poor manufacturing forecast for 2022 in addition to an alleged “main drop” in orders.
Lucid CEO Peter Rawlinson mentioned all “non-critical spending” will likely be additionally reviewed, in keeping with Reuters, and that the layoffs don’t simply have an effect on low-level staff. The cuts are claimed to come back from “practically each group and degree,” from executives to line staff.
Many automakers have introduced staffing cuts within the close to time period citing recession fears. Ford and Rivian have detailed layoffs, and Normal Motors is providing widespread buyouts to staff as effectively. They observe the tech business’s personal mass layoffs as giants like Amazon, Meta, and Microsoft endure far-reaching restructurings.
Lucid is seeing extra competitors from quickly electrifying legacy automakers in addition to from the most important participant within the EV sport, Tesla. Elon Musk’s manufacturing juggernaut has been slashing costs to place stress on its competitors, however not each automobile firm can reply in sort. Lucid, which has lengthy struggled with manufacturing points, has not introduced any reductions on its Air sedan, which is presently the one car it makes.
Whether or not that is only a bump within the highway for the younger firm or an indication of unresolvable misery has but to be seen. An 18% lower is a foul register any case, although.
Received suggestions? Ship ’em to [email protected]