Li-Cycle to cut 17% of staff amid battery recycling growing pains
Battery recycler Li-Cycle plans to lay off 17% of its staff - including three senior executives - as it pares its ambitious global growth plans in order to save cash and focus on building a crucial processing facility in New York. The cuts, announced on Tuesday, are a tacit acknowledgement by the Toronto-based company that its rapid growth in recent years - with facilities announced across North America, Europe and Asia - was unsustainable given the high costs and technical challenges associated with building what is essentially a new global market for electric vehicle battery recycling. Li-...
Source: yahoo.com
