05:47 PM EDT, 03/18/2024 (MT Newswires) -- Li-Cycle Holdings ( LICY ) said late Monday it has taken measures to "significantly reduce" its workforce and curtail nonoperational spending as part of its cash-preservation plan.

The company said it has also slowed operations at its Spoke network and is reassessing its strategy for North American Spokes, which may include more pauses or slowdowns.

Li-Cycle ( LICY ) said it expects to "further right-size and right-shape" the company.

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