Albemarle, which has also cut other costs twice this year, reported a net loss of $1.11 billion, or $9.45 per share, compared with a net profit of $302.5 million, or $2.57 per share, in the year-ago quarter.

Albemarle Corp. — the world’s largest lithium miner — is taking additional cost-saving steps, including laying off hundreds employees, following a loss of more than $1 billion as lithium prices continue to fall. The Charlotte-based chemical ...

Albemarle (ALB) reports larger Q3 loss due to falling lithium prices, plans to cut global workforce by 6%-7% as part of efforts to save $300M-$400M annually.

Albemarle, the world's largest lithium producer, said on Thursday it lost more than $1 billion in the third quarter and that it would slash its capital budget amid a 71% drop in prices for the electric vehicle battery metal.

Albemarle Corp. plans to cut its global workforce by 6%-7% as part of efforts to reduce costs as lithium prices slump and demand slows.