Lucid Motors axes 18% of staff as COO departs

The company confirmed the immediate departure of COO Marc Winterhoff as part of a restructuring plan designed to yield $158 million in annualized savings. Alongside the personnel reduction, Lucid is scrapping the second production shift at its AMP-1 manufacturing facility in Arizona. The automaker expects to absorb roughly $32 million in cash charges related to severance and transition benefits.

These measures follow a period of financial strain, with the company reporting a $2.7 billion loss on $1.35 billion in revenue for 2025. CEO Silvio Napoli, who assumed leadership in June, is currently overseeing a rigorous evaluation of business operations. Consequently, the company has suspended its financial guidance, citing a need to address elevated vehicle inventory levels that have pressured its cash flow. Despite these challenges, Lucid maintains a long-term goal of reaching cash-flow positivity by the end of the decade.