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Li-Cycle cutting ten jobs from Rochester area, brings leadership-level restructuring

todayMarch 26, 2024 1

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ROCHESTER, N.Y. (WROC) – Li-Cycle is cutting ten jobs in the Rochester Area as it continues to ‘re-evaluate’ the Rochester hub, the company announced today.

The company has also announced that it will also be doing leadership-level restructuring, saying it will save the company $10-million in payroll.

The expectation with this restructuring plan is to reduce around 60 positions, primarily at the cooperate level. This impacts approximately 17% of the company’s global workforce, contributing to the ten lost jobs in the Rochester area.

This is due to the company’s Cash Preservation Plan, which includes organizational right-sizing and right-shaping, which has led to the decision to transition from its regional management structure, to a more centralized model.

‘Top priority:’ Li-Cycle CEO addresses scaled-back Rochester Hub, three-point plan

This follows the $75-million Li-Cycle investment deal with Swiss company Glencore.

“Although our Cash Preservation Plan is essential to position Li-Cycle for future success, we have deep appreciation and gratitude for their high-quality work and contributions and will provide the impacted Li-Cycle team members with support through a period of transition,” Li-Cycle co-founder and CEO Ajay Kochhar said.

​ ROCHESTER, N.Y. (WROC) – Li-Cycle is cutting ten jobs in the Rochester Area as it continues to ‘re-evaluate’ the Rochester hub, the company announced today.

The company has also announced that it will also be doing leadership-level restructuring, saying it will save the company $10-million in payroll.

The expectation with this restructuring plan is to reduce around 60 positions, primarily at the cooperate level. This impacts approximately 17% of the company’s global workforce, contributing to the ten lost jobs in the Rochester area.

This is due to the company’s Cash Preservation Plan, which includes organizational right-sizing and right-shaping, which has led to the decision to transition from its regional management structure, to a more centralized model.
‘Top priority:’ Li-Cycle CEO addresses scaled-back Rochester Hub, three-point plan
This follows the $75-million Li-Cycle investment deal with Swiss company Glencore.

“Although our Cash Preservation Plan is essential to position Li-Cycle for future success, we have deep appreciation and gratitude for their high-quality work and contributions and will provide the impacted Li-Cycle team members with support through a period of transition,” Li-Cycle co-founder and CEO Ajay Kochhar said. Read More NewsRochesterFirst  

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