cost-saving efforts

Lucid Group Cuts U.S. Workforce by 18%, COO Departs Amid Cost-Saving Efforts

Lucid Group announced an 18% reduction in its U.S. workforce, the elimination of the COO role, and the departure of Marc Winterhoff, aiming for $158 million in annualized cost savings. The move includes cutting a production shift at its Arizona factory and is part of efforts to align production with demand and reduce inventory.