Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Guy Buys $123 Safe on eBay, Finds $26,000 Inside Seller tries to get half the cash back, fails »

Aluminum Giant Alcoa to Lay Off 13,500

Pittsburgh company slashes 13% of its work force

By the Associated Press

Posted Jan 6, 2009 8:58 PM CST
Email

(AP) – Alcoa, the world's third-largest aluminum maker, said today it will cut 13,500 jobs—13% of its work force—and slash spending and output to cope with the global economic slowdown. The reductions expand on cost-cutting measures announced in October, when the Pittsburgh-based company reported a 52% decline in third-quarter profit because of lower aluminum prices and weak demand for fabricated goods.

Alcoa also will cut 1,700 contractor positions and sell four business units. "These are extraordinary times, requiring speed, and decisiveness to address the economic downturn," said the company's chief executive. "We will continue to monitor the dynamic market situation to ensure that we adjust capacity to meet any future changes in demand and seize new opportunities that emerge."

An Alcoa Warrick Operations employee inspects the finished rolls of aluminum as they come off the last stage of the production line in this 2006 file photo.
An Alcoa Warrick Operations employee inspects the finished rolls of aluminum as they come off the last stage of the production line in this 2006 file photo.   (AP Photo)
Reynolds aluminum foil is a product of Alcoa, Inc.
Reynolds aluminum foil is a product of Alcoa, Inc.   (AP Photo/Don Ryan, file)
In this 2006 file photo, large rolls of aluminum are cooled before they get cut to order size at the Alcoa Warrick Operations in Newburgh, Ind.
In this 2006 file photo, large rolls of aluminum are cooled before they get cut to order size at the Alcoa Warrick Operations in Newburgh, Ind.   (AP Photo/ Daniel R. Patmore, File)
In this May 7, 2007 file photo, the world headquarters of Alcoa Inc. is seen along the north shore of the Allegheny River in Pittsburgh.
In this May 7, 2007 file photo, the world headquarters of Alcoa Inc. is seen along the north shore of the Allegheny River in Pittsburgh.   (AP Photo/Gene J. Puskar, file)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

Copyright 2012 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

 
layoffs • Alcoa • aluminum • economic downturn

More Newser Stories

Home Depot Hacks 7K Jobs

BofA Will Lay Off 35K

Bahrain Arm Accuses Alcoa of Corruption

Alcan Steels Itself Against Alcoa Bid

Aluminum Giant Makes Play for Rival
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne