Workforce Development

Workforce Development Company

Layoffs Happening Simultaneously As Industry Recalibrates Focus

Layoffs Happening Simultaneously As Industry Recalibrates Focus Workforce Reduction 25%

Established

Startup

Reason The company said the decision was “in response to market conditions,” without elaborating. (Bloomberg) Lucid cuts approximately 1,300 employees, 18% of its workforce, to lower operating expenses and preserve cash ahead of releasing a second model this year. (WSJ) Rivian is focusing resources on ramping up vehicle production and reaching profitability. (Reuters)

185 workers

Enovix lays off employees as it shifts most of its operations to Malaysia (The Information)

1300 workers

GM plans to lay off about 1,300 workers in Michigan due to vehicles they produce ending production. (CNBC)

700 workers

Ford cited "multiple constraints, including the supply chain and working through processing and delivering vehicles held for quality checks after restarting production in August” for the layoffs (Motley Fool)

170 workers from MI plant (10% of workforce) 100+ workers from Georgia plants

Talent | P. 261

Layoffs due to a “production gap and automakers realigning the speed of the EV transition.” (Automotive Dive) SK On slowing expansion in response to sluggish demand. (Financial Times)

Extracted from the PDF; charts and images may read imperfectly.