Lucid Plans Reduction Of Current Employee Workforce By 400 Employees, Or Approximately 6% - Filing
Portfolio Pulse from Benzinga Newsdesk
Lucid Group announced a restructuring plan to reduce its workforce by approximately 400 employees, or 6%, to optimize operating expenses. The plan is expected to be completed by the end of Q3 2024, with estimated charges of $21 million to $25 million.
May 24, 2024 | 11:03 am
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Lucid Group is reducing its workforce by 6% to optimize operating expenses, incurring charges of $21M-$25M. The plan is expected to be completed by Q3 2024.
The workforce reduction is a significant move to optimize expenses, which could improve profitability in the long term. The market may react positively to the cost-saving measures.
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