Lucid Group says it is cutting about 18% of its U.S. workforce as part of a cost-savings plan. Multiple outlets report the layoffs are also tied to broader industry pressures, including increased competition and demand shifting toward more affordable electric vehicle options. The company is trying to control spending as it works to improve financial performance. Reports also state that Lucid is reducing production alongside the workforce reductions, marking the second round of layoffs this year for the company. In addition to the staff cuts, Lucid’s chief operating officer, Marc Winterhoff, is leaving the company. CNBC and other outlets report that his departure is effective immediately, while additional coverage frames the move as part of the company’s restructuring efforts. Overall, the announcements position the workforce reduction and leadership change as measures to lower costs and adjust operations amid a challenging environment for EV manufacturers. The company’s detailed plans for how the cuts and production adjustments will affect timelines and staffing levels were not described consistently across reports.