Posted on 05/26/2024 2:01:07 PM PDT by rktman
Electric vehicle (EV) maker Lucid Motors announced that the company would be laying off staff in a bid to lower expenses amid a slowdown in the market.
The layoffs will affect 6% of its workforce, equating to around 400 employees, and will trim from all employee levels, including leadership and mid-level management, according to a filing submitted Friday with the Securities and Exchange Commission (SEC). Lucid is one of several EV makers to announce layoffs in recent months as consumers decline to adopt the product at the rate expected.
The company estimates that it will have to pay out between $21 million and $25 million in severance pay and benefits in connection with the layoffs, according to the filing. The planned terminations are expected to be done by the end of the third quarter.
(Excerpt) Read more at dailycaller.com ...
Remind me again why we moved here. 😂
must.......defend......tesla/shatner voice
“No fire in your photo”
Which means there never was a fire......you are pathetic
Oh, no argument from me on that. When they saw the control they could exert over others, they jumped on it! But being rats, as usual, they got in too much of a hurry and pushed too fast and too hard with technology that just ain’t there, yet.
Be thankful.
Because the rats have no clue how business and manufacturing actually works they overreached. Car makers plan 4-5 years out so the whole thing has turned into a cluster bleep with acres of unsold EV’s sitting on lots.
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