Li-Cycle announces 17% workforce reduction, CFO to step down

seekingalpha03-27

Li-Cycle Holdings (NYSE:LICY) on Tuesday said it expects to reduce about 60 positions, representing approximately 17% of the company’s global workforce. The company estimates that it will incur total ...

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The company estimates that it will incur total ...</p>\n\n<a href=\"https://seekingalpha.com/news/4084005-li-cycle-announces-17-workforce-reduction-cfo-to-step-down\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LICY","symbol_name":"Li-Cycle Holdings Corp.","start_time":0,"source_url":"https://seekingalpha.com/news/4084005-li-cycle-announces-17-workforce-reduction-cfo-to-step-down","article_id":"2422462403","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422462403","pubTimestamp":1711485253,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Li-Cycle Holdings (NYSE:LICY) on Tuesday said it expects to reduce about 60 positions, representing approximately 17% of the company’s global workforce. The company estimates that it will incur total ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LICY":"Li-Cycle Holdings Corp.","BK4120":"环境与设施服务"},"translate_title":"Li-Cycle宣布裁员17%，首席财务官辞职","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LICY":1},"content_text":"Li-Cycle Holdings (NYSE:LICY) on Tuesday said it expects to reduce about 60 positions, representing approximately 17% of the company’s global workforce. The company estimates that it will incur total charges of about $8.3 million in connection with the workforce reductions, with the majority of these costs to be incurred as cash severance payments over the next twelve months.   \"These steps are expected to generate approximately $10 million in payroll and benefit cost savings on an annualized basis,\" Li-Cycle said. The company also announced that Debbie Simpson, Chief Financial Officer, will be leaving in order to pursue new opportunities. Craig Cunningham has joined Li-Cycle as its interim CFO, effective immediately. Most recently, he was CFO at Electra Battery Materials and prior to that served as Vice President and Regional Financial Officer at Kinross Gold. The company announced transition from its regional management structure to a centralized model. Tim Johnston, Executive Chair, will transition to the role of interim non-executive Board Chair, while Conor Spollen, who has been with Li-Cycle since January 2022, has assumed the role of Chief Operating Officer. Dawei Li, who has been with Li-Cycle since July 2021, has assumed the new role of Chief Commercial Officer. 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