EV Startup Laying Off 18% Of Workforce

  • The electric vehicle startup Lucid told employees it would lay off roughly 18% of its workforce during a staff meeting on Tuesday.
  • Lucid CEO Peter Rawlinson told employees the company would cut hundreds of workers. He said details of the layoffs would be released in the coming days. The cuts will affect every level of the company, including executives. There will be about 1,300 cuts.
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