EV startup Lucid to lay off around 1,300 employees in upcoming months

Electric vehicle (EV) startup Lucid announced that it is laying off around 1,300 of its employees or 18 per cent of its workforce, within the upcoming months.

According to an email from CEO Peter Rawlinson, which was attached to a regulatory filing, the job cuts will impact employees and contractors “in nearly every organisation and level, including executives”, reports The Verge.

The filing stated that the restructuring should be finished “by the end of the second quarter of 2023”, and Rawlinson said that workers will learn more about the layoffs over the next three days.

According to the email, fired workers will receive “career resources, Lucid-paid healthcare coverage continuation, and acceleration of equity”.