Group 1 - SQM, the world's second-largest lithium producer, is cutting approximately 5% of its workforce in response to prolonged low prices for electric vehicle battery metals [1] - Lithium prices have plummeted nearly 90% since reaching a peak at the end of 2022, driven by oversupply and weaker-than-expected demand for electric vehicles [1] - SQM's first-quarter profits significantly missed market expectations, and the company anticipates continued price weakness in the first half of this year [1] Group 2 - The union's preliminary memo indicates that 25% to 30% of the layoffs will affect "ordinary positions," with the remainder impacting supervisory roles, including locations in Santiago, the Atacama salt flat, and northern lithium processing plants [2] - The union expressed regret over the company's decision and questioned the rationale behind it, while also offering support to affected employees [2] - Albemarle Corporation, the largest lithium producer globally, has also implemented layoffs and cost-cutting measures to mitigate the impact of persistently low lithium prices [2] Group 3 - The prices of lithium, nickel, and cobalt have collapsed in 2023, with no significant rebound observed in 2025, turning the "dream" of electrification into a challenging scenario [3] - The Indonesian government has shown signs of supply discipline by limiting mining quotas and suspending approvals for new mining processing plants, with expectations of increased production cuts this year [3]