Li-Cycle announces 17% workforce reduction, CFO to step down [Seeking Alpha]
Li-Cycle Holdings Corp. (LICY)
Company Research
Source: Seeking Alpha
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 assu
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LICY
News
- Li-Cycle Holdings Corp. (NYSE: LICY) had its "neutral" rating re-affirmed by analysts at Chardan Capital. They now have a $0.75 price target on the stock.MarketBeat
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LICY
Earnings
- 11/13/23 - Miss
LICY
Sec Filings
- 4/12/24 - Form DEFA14A
- 4/12/24 - Form ARS
- 4/12/24 - Form DEF
- LICY's page on the SEC website