Last year it burned through almost $2.6 billion.
, the cuts will affect employees and contractors “in nearly every organization and level, including executives.”
Rawlinson says employees will hear more about the layoffs over the next three days, and the filing says the restructuring should be complete “by the end of the second quarter of 2023.
For those who’ve been following Lucid, this doesn’t necessarily come as a surprise. Rawlinson says the layoffs are “aligned with the cost discipline announcement we made in late February when we reported earnings,” when it also announced that it hadThe company’s also been struggling to get cars built and into customers' hands — in February,having over 28,000 reservations but said it would only be able to produce 10,000 to 14,000 vehicles throughout 2023.
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