Lucid to lay off roughly 18% of U.S. workforce, COO Marc Winterhoff leaves

Lucid electric vehicles are seen at the New York International Auto Show on April 2, 2026. Danielle DeVries | CNBC Lucid Group said Monday it is cutting its U.S. workforce by approximately 18% as part of a cost-savings plan. The all-electric vehicle maker said its plan would give it annualized cost savings of approximately $158 million. The company also said Monday that its chief operating officer, Marc Winterhoff, is leaving the company effective immediately. The role of COO has been eliminated, Lucid said. Lucid's workforce reductions include full-time employees, contractors and hourly production workers in manufacturing, according to a filing with the Securities and Exchange Commission. The automaker also said it would be eliminating the second shift of production at its AMP-1 factory. Lucid expects to incur cash charges of approximately $32 million related to severance, employee benefits and employee transition, according to its filing. The company said last month that its incoming CEO, Silvio Napoli, would be evaluating the company's business operations. It suspended its guidance as a result, adding that it needs to lower its "elevated inventory" of vehicles, which for automakers has historically meant decreasing or idling vehicle production. — CNBC's Michael Wayland contributed to this report.