Lucid (LCID) Plans For An 18% Workforce Reduction

Lucid (LCID), today, confirms plans for an 18% workforce reduction. Caroline Woods discusses this and the Morgan Stanley analyst note. The analyst mentions that LCID job cuts are in line with goals for efficiency and cost cutting. They go over how Morgan Stanley believes the company has an attractive suite of technologies, and LCID could be "a relevant player in the fast growing E.V. business" with the right cost management. Morgan Stanley estimates that LCID job cuts would save over $100M annually. Tune in to find out more about the stock market today.