---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-064914"
form_type: "8-K"
ticker: "LCID"
cik: "0001811210"
company_name: "Lucid Group, Inc."
filed_at: "2024-05-24T23:59:59+00:00"
generated_at: "2026-06-01T08:48:30.671667+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Lucid Group cuts ~400 jobs (6% of workforce) in restructuring; expects $21-25M charges

## Summary
- Workforce reduction of approximately 400 employees (roughly 6%) across US, including leadership and mid-level management.
- Estimated total charges of $21M to $25M, primarily for severance, benefits, and transition, with most recognized in Q2 2024.
- Restructuring expected to be substantially complete by end of Q3 2024; hourly manufacturing and logistics workers not impacted.
- CEO Peter Rawlinson cites need for cost discipline while confirming Gravity SUV on track for late 2024 and midsize program for late 2026.

## SEC filing metadata
- accession: 0001104659-24-064914
- form_type: 8-K
- ticker: LCID
- cik: 0001811210
- company_name: Lucid Group, Inc.
- filed_at: 2024-05-24T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1811210/000110465924064914/0001104659-24-064914-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1811210/000110465924064914/tm2415482d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-064914
- JSON: https://secwatch.observer/filing/0001104659-24-064914.json
- Plain text: https://secwatch.observer/filing/0001104659-24-064914.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.