Lucid cuts 18% of U.S. workforce, eliminates COO role in $158M cost-reduction plan

Filed June 22, 2026 · Period ending June 22, 2026 · ~1 min read

Key Changes

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  Lucid is reducing its U.S. workforce by approximately 18%, affecting full-time employees, contractors, and hourly manufacturing workers, and has eliminated the second production shift at its AMP-1 factory to align capacity with anticipated demand.

  Item 2.05 — Costs Associated with Exit or Disposal Activities verify on EDGAR →
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  The Chief Operating Officer position was eliminated entirely, resulting in the immediate departure of Marc Winterhoff, who will receive severance benefits, continued security support, and retention of his company vehicle.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
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  The restructuring is expected to generate approximately $158 million in annualized cost savings as the company works toward profitability and positive cash flow generation.

  Item 2.05 — Costs Associated with Exit or Disposal Activities verify on EDGAR →