"They Built the Wrong Car" – Lucid Cuts 19% of Jobs After EV Sales Disappoint

Luxury EV maker Lucid is cutting roughly 18 percent of its U.S. workforce, including full‑time staff, contractors and factory workers, in its second deep layoff of the year as it tries to save about 158 million dollars annually and align production with softer demand. The company had around 9,000 employees worldwide at the end of 2025 and generated roughly 1.35 billion dollars in revenue last year on fewer than 18,000 vehicles, but its stock has plunged more than 50 percent in 2026 as investors lose patience with ongoing losses.