That's just corporate roles though. Amazon has 1.6M counting all the rest.
Even though it sounds like the Lucid cuts may just be office jobs, it sounded like the 12% number might be based on the overall number.
Lucid Motors slashes 12% of its workforce as it seeks profitability (Feb 2026)
- Thread starter billvb
- Start date
Even though it sounds like the Lucid cuts may just be office jobs, it sounded like the 12% number might be based on the overall number.
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Presumably there will be an analyst question about this on today's earnings call, and information on this in the 10-K. That may tell us more.
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Some exec is going to place the word “is” in the wrong spot and now they’re going to mars
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I completely agree. Far from always positive. And certainly not positive for those who got laid off (though sometimes can end up that way, it certainly doesn’t feel that way).
But, just as often, it ends up being positive for the company when done right, as you mentioned.
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I addressed this earlier, but in neither case did they lay off factory or hourly employees, so both were referring to corporate staff, based on my read of the memo. I could be misreading, but I did state my reasons above.
Just had my annual service moved from April 13 to May 12 because of cuts at Service
Center.
Center.
But they haven't even got to Earth yet!
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It does appear some service staff got cut. San Jose and San Diego in particular. I have no idea why. I assume (hope?) there’s a hiring plan, too.
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Their new motor, Atlas, simply needs to shrug
(I do love the fact that Atlas is supporting Earth, if they end up calling it that, lmao)
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Here's what they say in the 10-K and an 8-K filed today about it:
Workforce Reduction
In February 2026, we announced a reduction of our current U.S. workforce (the “Plan”) intended to align with our long-term operating goals as we focus on the start of production of our Midsize platform, expansion into the robotaxi market and development of ADAS technologies, as well as the sale and distribution of our current models in existing and new geographies. We expect to substantially complete the Plan by the end of the second quarter of 2026, subject to local law and consultation requirements. As a result of the Plan, we expect to incur total restructuring charges of approximately $40 million to $42 million, primarily related to severance payments, employee benefits, and employee transition. We expect the Plan to provide us with an annualized cash savings of approximately $145 million to $150 million.
NOTE 18 – SUBSEQUENT EVENT
... On February 20, 2026, the Company announced a reduction of its current U.S. workforce that intended to align with its long-term operating goals as it focuses on the start of production of its Midsize platform, expansion into the robotaxi market and development of ADAS technologies, as well as the sale and distribution of its current models in existing and new geographies. The Company expects to substantially complete the Plan by the end of the second quarter of 2026, subject to local law and consultation requirements. As a result of the Plan, the Company expects to incur total restructuring charges of approximately $40 million to $42 million, primarily related to severance payments, employee benefits, and employee transition.
Item 2.05 Costs Associated with Exit or Disposal Activities.
On February 20, 2026, in order to optimize the Company’s operating expenses as it focuses on the start of production of the Midsize platform, expansion into the robotaxi market and development of ADAS technologies, as well as the sale and distribution of its current models in existing and new geographies, the Company announced a reduction of the Company’s current U.S. workforce by approximately 12 percent, excluding hourly production workers in manufacturing, logistics, and quality (the “Plan”). The Plan is expected to provide the Company with cost savings of approximately $500 million over a three-year period. The Company estimates that it will incur charges of $40 million to $42 million related to severance, employee benefits, and employee transition. The Company expects to substantially complete the Plan by the end of the second quarter of 2026, subject to local law and consultation requirements.
Workforce Reduction
In February 2026, we announced a reduction of our current U.S. workforce (the “Plan”) intended to align with our long-term operating goals as we focus on the start of production of our Midsize platform, expansion into the robotaxi market and development of ADAS technologies, as well as the sale and distribution of our current models in existing and new geographies. We expect to substantially complete the Plan by the end of the second quarter of 2026, subject to local law and consultation requirements. As a result of the Plan, we expect to incur total restructuring charges of approximately $40 million to $42 million, primarily related to severance payments, employee benefits, and employee transition. We expect the Plan to provide us with an annualized cash savings of approximately $145 million to $150 million.
NOTE 18 – SUBSEQUENT EVENT
... On February 20, 2026, the Company announced a reduction of its current U.S. workforce that intended to align with its long-term operating goals as it focuses on the start of production of its Midsize platform, expansion into the robotaxi market and development of ADAS technologies, as well as the sale and distribution of its current models in existing and new geographies. The Company expects to substantially complete the Plan by the end of the second quarter of 2026, subject to local law and consultation requirements. As a result of the Plan, the Company expects to incur total restructuring charges of approximately $40 million to $42 million, primarily related to severance payments, employee benefits, and employee transition.
Item 2.05 Costs Associated with Exit or Disposal Activities.
On February 20, 2026, in order to optimize the Company’s operating expenses as it focuses on the start of production of the Midsize platform, expansion into the robotaxi market and development of ADAS technologies, as well as the sale and distribution of its current models in existing and new geographies, the Company announced a reduction of the Company’s current U.S. workforce by approximately 12 percent, excluding hourly production workers in manufacturing, logistics, and quality (the “Plan”). The Plan is expected to provide the Company with cost savings of approximately $500 million over a three-year period. The Company estimates that it will incur charges of $40 million to $42 million related to severance, employee benefits, and employee transition. The Company expects to substantially complete the Plan by the end of the second quarter of 2026, subject to local law and consultation requirements.
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Depends on where you cut, for a business not profitable, it’s good
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They never said they were going to sell in 2026, only produce. They could literally make 50 cars in December to meet that goal and deliver them in 2027. Given that nothing has been shown on the midsize and we’re almost 3 months into 2026 already, l’ll be happy if they start producing them by year end. The clock is ticking to show the midsize, and fast!
I figure they are okay with some service delays, and having those positions might not have done much to reduce the delays anyways.
I think they'd be better of not selling cars out of service market altogether, the idea of having one mobile guy do repairs in 5 states is crazy expensive, and they must spend millions on shipping cars for basic QA stuff.
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My gut feeling is that the investor day on March 12 will be the "soft launch" that'll kickoff the midsize marketing, with an official event to do a full reveal not too long afterwards
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Seems to me they are saying that sales and not just production will begin by late 2026, but certainly deliveries could take until 2027.
"...we are not scheduled to introduce another vehicle model for sale until late 2026."
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Which could mean opening up orders in October / November similar to what they did with the Gravity but then completely fumbled the launch.
They’ve either done a really good job at keeping the midsize extremely hidden or they’re running the gauntlet to get this thing finalized and into production by year end. Based on Lucids track record though I’d be leaning towards the latter
my gut told me not to buy BTC when it was $100 cuz my brother in law told me too and I was like what is that even I don't care man but have fun with your digital money