FILE PHOTO: A Lucid Air electric vehicle is displayed in Scottsdale, Arizona, U.S., September 27, 2021. Picture taken September 27, 2021. REUTERS/Hyunjoo Jin
(Reuters) -Electric-vehicle maker Lucid Group Inc said on Tuesday it would lay off about 18% of its workforce, or around 1,300 employees, to cut costs as part of a restructuring plan.
The maker of Air luxury sedan last month forecast 2023 production that fell well short of analysts' expectations and reported a major drop in orders during the fourth quarter.
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