Charlotte, North Carolina-based Albemarle Corporation, a specialty chemicals manufacturing company specializing in lithium, bromine, and catalysts, has announced a major cost-cutting initiative following a $1 billion loss.
The initiative will impact up to 7% of its global workforce, representing 15% of the company's non-manufacturing jobs.
In this second round of layoffs, approximately 500 employees will be impacted following 300 employees in January 2024.
According to CEO Kent Masters, "This allow us to advance near-term growth and preserve future opportunities as we navigate the dynamics of our key end-markets.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?