Lucid Cuts 18% of U.S. Workforce, Eliminates COO Role on Restructuring Push

According to regulatory filings, Lucid Group announced on June 22 that it will cut approximately 18% of its U.S. workforce and eliminate its Chief Operating Officer position as part of a broader organizational restructuring. The company expects one-time cash charges of $32 million but projects annual cost savings of $158 million. COO Marc Winterhoff has departed the company as part of the changes aimed at simplifying operations and adjusting production based on market demand.
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