In an effort to increase profitability in the face of intensifying competition, EV manufacturer Lucid Group said on Monday that it will lay off roughly 18% of its US personnel and that COO Marc Winterhoff has departed the firm. This was the company's second significant managerial move in recent months. The company's shares were down almost 4%, as reported by Reuters . The layoffs reflected the growing pressure on EV manufacturers like Lucid to control expenses as buyers move towards more affordable models and as profitability is impacted by growing competition from both established automakers and recent arrivals. ALSO READ | India's Fragmented Water Governance Raises Fiscal Risks, Warns Moody's The company, which employed over 9,000 people worldwide as of Dec. 31, 2025, stated that hourly factory workers, contractors, and full-time staff will all be impacted by the reduction. Additionally, it eliminated the second shift at its main EV production plant, the AMP-1...
The coming by-polls in West Bengal are expected to be bellwether for which way the political winds are blowing in Mamata Banerjee's West Bengal after the massive protests over the rape-murder of a Kolkata doctor. The protest, strongly backed by the urban middle class, has shaken the state and despite protesters' claims that it was apolitical, it had received significant support from the opposition. By-polls are due in six seats in various parts of the state - their geography and demography are expected to be strong indicators of the political trend. The seats include Naihati, the urban centre close to Kolkata, the minority dominated Haroa, Taldangra with a significant tribal population, Sitai with a chunk of minority and Rajbanshi vote, the tea garden seat of north Bengal. Madiahat and Medinipur. Many believe that the results now could throw light on whether the RG Kar protests will impact future elections. The Opposition BJP, which has been trying to dislodge Mamata Banerje...