{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-037708","form_type":"8-K","ticker":"LCID","cik":"0001811210","company_name":"Lucid Group, Inc.","filed_at":"2023-03-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.693300+00:00","generated_at":"2026-06-17T13:15:51.406721+00:00","sec_items":["2.05","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Lucid Group to cut 1,300 jobs (~18% of workforce); expects $24-30M restructuring charges","bullets":["Workforce reduction of ~1,300 employees (approx. 18%) announced on March 28, 2023.","Estimated restructuring charges of $24M to $30M, primarily in Q1 2023, mostly cash expenditures.","Plan expected to be substantially completed by end of Q2 2023, subject to local law.","CEO Peter Rawlinson's employee email cites evolving business needs and productivity improvements.","Company also reviewing non-critical spending; Gravity SUV launch planned for 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-037708","json":"https://secwatch.observer/filing/0001104659-23-037708.json","markdown":"https://secwatch.observer/filing/0001104659-23-037708.md","text":"https://secwatch.observer/filing/0001104659-23-037708.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1811210/000110465923037708/0001104659-23-037708-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1811210/000110465923037708/tm2310732d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T13:15:51.406721+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"147e5aaf60d504e69c82e44f8095278ad473876e","claim":"Lucid Group, Inc. announced a restructuring with charges of The Company estimates that it will incur a total of approximately $24 million to $30 million in charges in connection with the Plan, which consist primarily of affecting Entire workforce (global, all organizations and levels) (approximately 1,300 employees, or approximately 18%).","evidence_excerpt":"On March 28, 2023, Lucid Group, Inc. (the “ Company ”) announced a restructuring plan (the “ Plan ”) intended to reduce the Company’s operating expenses in response to evolving business needs and productivity improvements through a reduction of the Company’s current employee workforce by approximately 1,300 employees, or approximately 18%. The Company expects to substantially complete the Plan by the end of the second quarter of 2023, subject to local law and consultation requirements. The Company estimates that it will incur a total of approximately $24 million to $30 million in charges in connection with the Plan, which consist primarily of charges related to employee transition, severance payments, employee benefits, and stock-based compensation. The Company expects that charges of approximately $22 million to $28 million will be recognized primarily in the first quarter of 2023, with the majority of such charges anticipated to be paid by the end of the second quarter of 2023. Subst","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1811210/000110465923037708/0001104659-23-037708-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"The Company estimates that it will incur a total of approximately $24 million to $30 million in charges in connection with the Plan, which consist primarily of"},{"label":"Affected area","value":"Entire workforce (global, all organizations and levels)"},{"label":"Headcount","value":"approximately 1,300 employees, or approximately 18%"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}