Lucid Motors is laying off 18% of its workforce, roughly 1,500 employees, just four months after the EV maker cut 12% of its staff. The company also confirmed Monday that it has eliminated the second production shift at its Casa Grande, Arizona factory.
It’s the second mass layoff under a new leadership regime that is barely three weeks old, and it lands as the US EV market cools and automakers retreat from their electric plans.
A new CEO clearing the decks
The cuts are the first major move by Silvio Napoli, who took over as Lucid’s CEO earlier this year and only formally assumed the role on June 1. Lucid says the restructuring will “simplify the company, sharpen execution, and position Lucid to become more competitive over time.”
Napoli is an unusual pick to run an EV startup. He spent his career at Schindler Group, the Swiss maker of elevators and escalators, where he served as chairman and CEO. He now inherits a company that has churned through more than a dozen top executives in two years.
