Lucid has laid off 1,500 workers in the second major phase of the year

Three months ago, Lucid Motors introduced it new mid-range power tower which it said will introduce several new vehicles in the coming years. The Saudi-backed startup is now selling its own Gravity SUV along with Regular air sedan I plan to make a profit with the small and cheap models that are sold in high-quality books. But things are not looking good for Lucid; today, the automaker is laying off about 1,500 workers—18 percent of its workforce.

This is not the first layoff of the year; In February, Lucid stopped 12 percent of its employees.

In reservation and the Securities and Exchange Commission, Lucid wrote that the layoffs “are designed to improve the Company’s profitability and profitability by streamlining the organization’s structure, optimizing operating expenses, and aligning production plans in line with expectations.”

Lucid is also completing a second project at its plant in Casa Grande, Arizona, and says that together, these measures will save $158 million, even after spending $32 million on “layoffs, employee benefits, and employee turnover.”

Among those fired is Marc Winterhoff, Lucid’s COO and former CEO, who took over in February after former CEO, Peter Rawlinson, suddenly he came down. Lucid named a new CEO – Silvio Napoli – in April, and with Winterhoff’s departure, the company is eliminating the COO position entirely.