Lucid Motors’ new CEO cuts 18% of staff to ‘simplify the company’

Lucid Motors' new CEO has cut 18% of staff to simplify the company and align production plans with anticipated demand. This move is likely a cost-cutting measure to ensure the company's financial stability. The elimination of a production shift at the Arizona factory is also part of this effort. The changes aim to make the company more efficient. This decision will impact employees but may help the company's long-term success.