Articles for tag: Albemarle, employees, lays, lithium, prices, weak

Albemarle Faces Layoffs Amid Weak Lithium Prices

Amid a surplus of 200,000 tonnes of lithium carbonate equivalent, comprising a staggering 17% of global demand, Goldman Sachs dauntlessly anticipates that this dismal scenario will prompt producers, predominantly those from Australia, to substantially curtail output to restore equilibrium in the market. The US-based lithium juggernaut recently divulged its contemplation on how to sustain growth, slash expenses, and streamline cash flow amidst the prevailing market adversities. This announcement was coupled with a projection of layoffs, and a decision to defer expenditure on various projects, including a colossal refinery endeavor in South Carolina. As reported on Monday, Albemarle’s workforce reduction has