In the era of leaner companies, even the C-suite isn’t insulated from downsizing. Just look at Lucid.
The luxury EV maker filed an 8-K to the SEC on Monday detailing plans to cut about 18% of its US workforce — including full-time employees, contractors, and hourly manufacturing workers at its AMP-1 factory in Arizona.
But the restructuring is also notably impacting its C-Suite, with Lucid announcing “the elimination of the Chief Operating Officer position.” As a result, Marc Winterhoff, Lucid’s COO who had served as interim CEO earlier this year before resuming the chief operating role when a new CEO was announced, has departed. Winterhoff did not respond to a request for additional comment from Business Insider.
Lucid is looking to “simplify the company” and “sharpen execution,” a spokesperson told Business Insider in a statement.
“These are difficult decisions taken to align production with demand, reduce inventory, and adapt to declining market conditions,” a company spokesperson. “They are part of a broader effort to simplify the company, sharpen execution, and position Lucid to become more competitive over time.”
Lucid expects the cuts to generate about $158 million in annualized cost savings. Lucid will eliminate the second shift at the plant to align “production plans with anticipated demand,” the filing said.
The move comes during a year and a half of upheaval at Lucid.
Longtime CEO Peter Rawlinson abruptly resigned in February 2025, prompting Winterhoff to serve as interim CEO.
Several leaders have since left the automaker: SVP of engineering and software Emad Dlala and SVP of strategy Claudia Gast both left earlier this year. Chief engineer Eric Bach was fired in November after 10 years at the company and has since filed a wrongful termination lawsuit against Lucid. The EV maker previously called Bach’s legal claims “absurd” in a statement on the lawsuit.
The company also cut 12% of its US workforce in February.
On June 1, Lucid officially installed Silvio Napoli — the former boss of The Schindler Group, an elevator maker — as the permanent CEO.
Napoli inherits a long to-do list. The Saudi Arabia-backed automaker is hoping to launch the Cosmos, its first sub-$50,000 mass-market SUV, later this year to challenge the Tesla Model Y and Rivian R2. It also has robotaxi ambitions after inking a partnership with Uber and Nuro.
In the first quarter, Lucid faced a supplier issue that delayed delivery times on its Gravity SUV, while some owners have openly complained about software issues. Lucid continues to receive praise for the engineering of its vehicles, including the Lucid Air sedan, which remains among the most efficient EVs on the market.
For Winterhoff, the elimination of the COO role doesn’t mean that he’ll be leaving empty handed. In addition to severance, Lucid said it “agreed to provide certain continued security support and have him keep his company vehicle.”
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