Arizona’s fledgling electric car industry has been hit by rumors that the Lucid Group will lay off about 1,300 employees.
In its latest report filed with the Arizona Department of Economic Security, the company said 968 job losses will occur at its sprawling Pinal County facility, revising an earlier estimate of 1,296 job cuts there. .
CEO Peter Rawlinson notified employees of the layoffs in a March 28 letter under the headline “Today’s Difficult News.” This was followed by layoff postings at the Arizona Department of Economic Security.
“Given evolving business needs and increased productivity, we are reducing the size of our organization by approximately 18%. This will impact Lucid employees and contractors,” said the company’s chief technology officer. Rawlinson, who also serves as
“This action is consistent with the cost discipline announcement we made when we reported earnings in late February, and we are reviewing all non-material spending at this time to continue taking steps to control costs. is taught.”
The Newark, Calif.-based luxury car maker says it will employ about 7,200 people by the end of 2022. For the full year, he reports a loss of $2.56 billion attributable to common stockholders on earnings of $608 million. Lucid produced about 7,200 cars at Casa Grande last year.
Affected employees will receive a retirement package that includes healthcare coverage, access to career resources, and other benefits paid by Lucid.
According to Rawlinson’s memo, Lucid’s workforce will be cut “at nearly every organization and level, including C-suite.” The layoffs are aimed at making the company more resilient and agile and stronger in the long term, he added.
Lucid’s mission remains the same, he continued.
“We are committed to a more innovative and environmentally sustainable future as we expand globally and develop better vehicles such as the Gravity SUV, which is scheduled to go on sale in 2024. , to design, manufacture and deliver the best EVs on the market,” he said in his letter.
“I believe we have the cutting edge technology, we have the right operational infrastructure and know-how to offer, and we have a track record of tenacity that makes us stronger.”
Please contact the reporter at russ.wiles@arizonarepublic.com.
