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RePlanet is California's biggest operator of recycling redemption and processing centers with 284 centers statewide.
Earlier this week, however, they shut down all of its centers meaning 750 employees are out of work.
CFO David Lawrence released this statement:
"With the continued reduction in State fees, the depressed pricing of recycled aluminum and PET plastic, and the rise in operating costs resulting from minimum wage increases and required health and workers compensation insurance, the Company has concluded that operation of these recycling centers and supporting operations is no longer sustainable".
Mercury News reports that three years earlier, RePlanet shut down 191 of their centers which led to 278 employees being laid off.
The executive director of Protect CRV, Jenna Abbott had this to say:
"We are devastated to hear that RePlanet is closing all of its sites and all of its doors. The best-case scenario is that people will have to travel farther to (get money back on) their redeemable containers. The worst-case scenario: they just might not have that opportunity".
Many claim that these shutdowns show that California is not doing enough to help the recycling industry.
For example, Consumer Watchdog, a consumer advocacy group, points out that retailers who sell recyclable containers are obligated to offer a refund, but many don't follow through with this.
Listen to Tim Conway Jr. and Mark Thompson talk to Kris Ankarlo about it below!