secwatch.observer — SEC 8-K summary
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Issuer:     Li-Cycle Holdings Corp. (—)
CIK:        0001828811
Form:       8-K
Filed at:   2024-03-26T23:59:59+00:00
Accession:  0001193125-24-077662
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Li-Cycle cuts ~17% of workforce (60 jobs); CFO & executive chair depart as part of restructuring plan
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- Approximately 60 positions eliminated (~17% of global workforce); expected to generate ~$10M in annualized cost savings.
- Estimated total charges of $8.3M, primarily cash severance over next 12 months; up to $230K for outplacement.
- Executive Chair Tim Johnston transitions to non-executive Chair; CFO Debbie Simpson departs, will advise through May 31, 2024.
- Craig Cunningham appointed Interim CFO ($334/hr via Knightsbridge); Conor Spollen promoted to COO; Dawei Li named CCO.
- Restructuring part of Cash Preservation Plan; company shifts from regional to centralized management model.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828811/000119312524077662/0001193125-24-077662-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828811/000119312524077662/d810544d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-077662

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