Li-Cycle Layoffs: 17% of staff being cut, ‘recalibrating’ organizational structure

Li-Cycle is eliminating approximately 17 per cent of its workforce, including three senior executives, as part of a company-wide restructuring.

What’s happening at Li-Cycle?

In a recent news release, the Toronto-based battery recycler claimed that the job cuts are part of its “Cash Preservation Plan.”

“We are recalibrating our organizational structure to better align with the more focused priorities of Li-Cycle,” CEO Ajay Kochhar said in the release.

“We believe that a centralized model, and the consolidation of our operational and commercial teams, will increase efficiencies and facilitate cross-functional partnerships to enhance our planning process and ability to execute on our short- and long-term objectives.”

A total of 60 positions are expected to be axed.

The company is anticipating a restructuring charge of approximately $8.3 million, with the majority of the costs connected to “cash severance payments” over the next 12 months.

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Impact on Canadian staff

It remains unclear if any Canadian jobs at Li-Cycle are on the chopping block.

According to the company’s LinkedIn page, it has more than 100 workers in the country.

Termination agreements for Li-Cycle employees

In Canada, non-unionized employees at Li-Cycle are owed full severance pay when they lose their jobs due to downsizing, corporate restructuring, or the closure of the business.

This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and B.C.

People working “on contract” or as a contractor may also be owed severance pay — given that many employees in Canada are often misclassified as independent contractors.

Severance can be as much as 24 months’ pay, depending on a number of factors.

WATCH: Employment lawyer Lior Samfiru explains what rights employees have if they are being fired or let go on an episode of the Employment Law Show.

Before accepting a severance offer, double-check the amount using our firm’s free Severance Pay Calculator. It has helped millions of Canadians determine their entitlements.

In addition to your salary, make sure to factor in any other elements of your compensation (i.e. bonuses, commission, etc.).

If your employer’s offer falls short of what our Severance Pay Calculator says you are owed, it’s very likely that you have been wrongfully dismissed and should contact an experienced employment lawyer at Samfiru Tumarkin LLP.

Non-unionized employees in Canada have up to two years from the date of their dismissal to pursue proper severance pay.

LEARN MORE
• Severance pay for provincially regulated employees
• Rights to severance for manufacturing sector staff
• Severance packages during mass layoffs

Major layoffs continue

The job cuts at Li-Cycle come amid a flurry of layoffs in 2024.

Big names, including Canada Goose, Dell, Barclays, Unilever, IBM, TC Energy, Electronic Arts, Rivian, Sony, Vice Media, BuzzFeed, Nike, Cisco, Catalent, and Cascades, have pulled out the axe as they continue to navigate challenging economic conditions.

SEE ALSO
• Shell to lay off 20% of deals division, part of restructuring
• Mold-Masters 2024 Layoffs Impact Canadian Employees: Reports
• Where are layoffs happening in Canada?

Lost your job? Talk to an employment lawyer

If you have been fired or let go for any reason, contact the experienced employment law team at Samfiru Tumarkin LLP.

Our lawyers in Ontario, Alberta, and B.C. have successfully represented tens of thousands of non-unionized individuals.

In addition to severance package negotiations, we can assist you on a broad range of employment matters, including:

If you are a non-unionized employee who needs help with a workplace issue, contact us or call 1-855-821-5900 to get the advice you need and the compensation you deserve.