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Li-Cycle to lay off 17% of global workforce amid restructuring

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The move, however, will also generate approximately $10 million in payroll and benefit cost savings annually, according to the organisation.

Executive shakeup amid layoffs

The reduction to the company’s size will also see changes in its leadership board, particularly with the departure of two executives.

Debbie Simpson, Li-Cycle’s chief financial officer, will be leaving the organisation to “pursue new opportunities.”

Craig Cunningham has been named interim chief financial officer, but Simpson is expected to remain with the team until May 31, 2024, to support a smooth transition.

Richard Storrie, the company’s regional president for Europe, Middle East, and Africa, will also be leaving the organisation as it shifts to a centralised organisational model.

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