Lucid Group plans to reduce its US workforce by about 18% and said chief operating officer (COO) Marc Winterhoff has left the company with immediate effect.
The EV maker said said the reduction will affect full-time employees, contractors and hourly manufacturing workers across its US operations.
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Lucid has also removed the second production shift at its AMP-1 manufacturing facility.
According to the company, the plan is expected to deliver annualised cost savings of about $158m.
Lucid added it expects to record cash charges of around $32m linked to severance payments, employee benefits and transition support.
It also expects to substantially complete the plan by the end of the third quarter of 2026, subject to local legal and consultation requirements.
In a separate disclosure, Lucid said Winterhoff departed after the COO role was eliminated.
The company said the workforce reduction and executive departure are part of its wider effort to advance its path towards profitability and positive cash flow generation.
It said the restructuring is meant to optimise costs and match production capacity with expected market demand while delivering long-term operational efficiencies.
For the quarter ended 31 March 2026, the company posted a net loss of $1.02bn, compared with a net loss of $366.2m a year ago.
Lucid Group reported first quarter 2026 revenue of $282.4m, up 20% year-on-year, while vehicle production increased 149%.
Loss from operations rose to $989.4m from $691.9m a year earlier.
