LICY - What's Going On With Lithium-Ion Battery Company Li-Cycle Shares Today? | Benzinga
Lithium-ion battery resource company Li-Cycle Holdings Corp (NYSE:LICY) said as part of its cash preservation plan, it will reduce its workforce at the corporate level.
Li-Cycle expects to reduce approximately 60 positions, representing approximately 17% of the company’s global workforce.
The company will incur total charges of approximately $8.3 million in connection with the workforce reductions, with a major portion of the charges incurred will be in the form of cash severance payments over the next twelve months.
The above initiatives are expected to rake in about $10 million in ...