Dive Brief:
- Creative Recycling Systems, an privately-held e-waste recycler, announced it will let over 70 employees go. The company also expects to shutter two of its facilities in Tampa, FL.
- Both the closure and the layoffs are permanent.
- The company expects to dismiss the 70 staff members by the end of July 2014.
Dive Insight:
The decision was prompted by a series of unexpected circumstances, including the loss of competitive bid opportunities and cash flow difficulties. In 2012, the electronics recycling company reported revenue of $33.78 million.