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Lucid Motors to Lay Off 400 Employees

Lucid Motors (NASDAQ: LCID), an American manufacturer of luxury electric vehicles, plans to lay off 400 employees, which is about 6% of its headcount. Last year, the company laid off 1,300 employees. This is part of Lucid Motors’ strategic move to deal with slower growth and streamline operations for future success.

When the company announced plans to lay off employees, it sent ripples through the industry. This news came at a pivotal moment for the company, which plans to launch its first electric Gravity SUV before…

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