Lucid Motors Announces Second Major Layoff of 2026, Cutting 1,500 Jobs
On Monday, June 22, electric vehicle manufacturer Lucid Group (LCID) unveiled a comprehensive restructuring plan. This plan involves the elimination of approximately 18% of its U.S. workforce, equating to roughly 1,500 employees. This marks the company’s second significant layoff within a span of five months, affecting full-time employees, contractors, and hourly production workers alike.
The new CEO, Silvio Napoli, who officially assumed his role on June 1, is the driving force behind these drastic measures. The anticipated outcome of the restructuring is an annualized savings of approximately $158 million, notwithstanding the one-time severance costs of about $32 million. In addition to the layoffs, Lucid has also terminated a second production shift at its AMP-1 factory in Casa Grande, Arizona, and has completely done away with the COO position. The outgoing COO, Marc Winterhoff, has left the company with immediate effect.
This decision comes on the heels of a 12% workforce reduction in February 2026. Lucid is now staking its future on the launch of two mass-market electric crossovers: the Lucid Cosmos SUV, which is priced under $50,000 and is expected to hit the market before the end of the year, and the Lucid Earth, slated for a 2027 release. In 2025, Lucid reported a loss of $2.7 billion on a revenue of $1.35 billion.
Source: CNBC – Lucid to lay off roughly 18% of U.S. workforce, COO Marc Winterhoff leaves