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EV Manufacturer Announces Layoffs to Nearly 20% of Work Force After Struggling to Create Demand

One luxury electric vehicle manufacturer is laying off workers after overestimating demand for its products. Bay Area-based electric vehicle startup Lucid Group announced that it was laying off 1,300 workers in a Tuesday filing, according to SFGATE. Lucid CEO and CTO Peter Rawlinson indicated that the firings would affect every...

One luxury electric vehicle manufacturer is laying off workers after overestimating demand for its products. Bay Area-based electric vehicle startup Lucid Group announced that it was laying off 1,300 workers in a Tuesday filing, according to SFGATE. Lucid CEO and CTO Peter Rawlinson indicated that the firings would affect every…

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