ALB - What's Going On With Albemarle Stock Today? | Benzinga
Albemarle Corp (NYSEW:ALB) shares are trading lower Wednesday after the company outlined actions to reduce costs and preserve growth.
What Happened: Albemarle said a series of proactive measures are underway to re-phase organic growth investments and optimize its cost structure. The actions are in response to changing end-market conditions in the lithium value chain.
Albemarle said it plans to reduce costs by approximately $95 million a year by lowering its headcount and cutting spending on contracted ...