Many EV startups are struggling to stay afloat these days, and Lucid is no exception. The company has just announced new layoffs for the second time in 12 months.
Around 400 employees, or around 6 percent of the staff, will be facing unemployment soon. Mid- and top-level managers are among the most affected. Lucid explains that it had to resort to staff cuts to keep expenses sustainable after launching the Gravity SUV EV, which has yet to pay off.
A new reorganization is underway at the electric car company that should hopefully return its capitalization to an acceptable level.
