Lucid layoffs, on the record
Every job cut, severance charge and restructuring Lucid reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 6,500 to approximately 9,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 6,500 | December 31, 2023 |
| 10-K for 2024 | approximately 6,800 | December 31, 2024 |
| 10-K for 2025 | approximately 9,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryAnnounced a restructuring plan intended to reduce operating expenses through a reduction in workforce, and substantially completed it in 2023.
Word for word“Restructuring Charges On March 28, 2023, we announced a restructuring plan (the “Restructuring Plan”) intended to reduce operating expenses in response to evolving business needs and productivity improvement through a reduction in workforce.” 10-K for 2023
Our summaryAnnounced a 2024 restructuring plan involving a reduction of the employee workforce, substantially completed in 2024.
Word for word“On May 24, 2024, we announced a restructuring plan (the “2024 Restructuring Plan”) intended to optimize operating expenses in response to evolving business needs and productivity improvement through a reduction in workforce.” 10-K for 2024
Our summaryRecorded restructuring charges for the 2024 plan, primarily severance payments, employee benefits, employee transition and stock-based compensation, net of a reversal.
Word for word“During the year ended December 31, 2024, we recorded restructuring charges of $20.3 million related to the 2024 Restructuring Plan within restructuring charges in the consolidated statements of operations and comprehensive loss.” 10-K for 2024
Our summaryAnnounced a 2023 restructuring plan to reduce operating expenses through a reduction in workforce; completed in the first quarter of 2024.
Word for word“On March 28, 2023, we announced a restructuring plan (the “2023 Restructuring Plan”) intended to reduce operating expenses in response to evolving business needs and productivity improvement through a reduction in workforce.” 10-K for 2024
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2021-12-31 | $0 | — |
| 2022-12-31 | $0 | — |
| 2023-12-31 | $24.5 million | $25.9 million |
| 2024-12-31 | $20.3 million | $21.6 million |
| 2025-12-31 | $0 | $267,000 |
Lucid filed 4 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Lucid’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-24. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.