Albemarle Corp. — the world’s largest lithium miner — is taking additional cost-saving steps, including laying off hundreds employees, following a loss of more than $1 billion as lithium prices continue to fall.
The Charlotte-based chemical manufacturing company is eliminating up to 7% of its global workforce, representing 15% of non-manufacturing jobs, CEO Kent Masters said Thursday during the company’s third-quarter earnings call.
Albemarle has about 1,100 employees in Charlotte and Kings Mountain, and upwards of 7,000 workers globally, company spokesman Peter Smolowitz confirmed Thursday.
That means this round of job cuts could affect nearly 500 employees.
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