Albemarle layoffs | Image:Republic Albemarle layoffs news: Albemarle Corporation, the world’s largest lithium producer, has laid off over 300 employees, equivalent to 4 per cent of its global workforce, according to The Information. This move comes amidst a challenging landscape for the lithium industry. Lithium prices plummet Representative image from Freepik The oversupply of lithium, a vital component in electric vehicle (EV) batteries, has led to a staggering 80 per cent drop in prices, currently standing at $13,200 per tonne, the lowest since 2020, according to Benchmark Mineral Intelligence. The company had previously hinted at potential cost-cutting measures, citin
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