Lucid’s shedding 18 % of its staff

Photograph by Tim Stevens for The Verge

Lucid, the EV startup behind the Air sedan that competes with the Tesla Mannequin S, has introduced that it’s shedding round 1,300 workers, or 18 % of its workforce, throughout the subsequent few months. In accordance with an e-mail from CEO Peter Rawlinson, which was hooked up to a regulatory submitting, the cuts will have an effect on workers and contractors “in practically each group and degree, together with executives.”

Rawlinson says workers will hear extra in regards to the layoffs over the following three days, and the submitting says the restructuring must be full “by the tip of the second quarter of 2023.” The e-mail says that workers who’re let go will obtain “profession assets, Lucid-paid healthcare protection continuation, and acceleration of fairness,” and the…

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