AM I NEXT? NO LOVE AT US MAGNESIUM

Salt Lake City, Utah-based US Magnesium, a producer of magnesium, lithium, and other chemicals from Great Salt Lake, has announced it is idling its lithium production operations.

The work stoppage will impact 186 employees at its Salt Lake City facility.

A company statement noted US Magnesium decided to idle plant operations due to “deteriorating market conditions for lithium carbonate.”

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?

AM I NEXT? NO LOVE AT PIEDMONT LITHIUM

Belmont, North Carolina-based Piedmont Lithium, a mining company specializing in the economic mineral recovery of lithium, has continued its reduction in force, moving beyond its 27% reduction in February 2024 to

completing an additional 32% reduction in October 2024 as part of an announced ongoing cost-cutting plan,

CEO Keith Phillips noted, “While lithium markets remain challenging, we have been successful in strengthening our financial position through reductions in operating costs, minimized spending on discretionary capital items, and the arrangement of low-cost working capital financing through a trading company partner. We believe we are uniquely positioned to deliver lithium hydroxide as a key resource to the market.”

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?

AM I NEXT? NO LOVE AT ABERMARLE

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?