Metals News
[Al] Alcoa Further Cut 135 kt
industry news
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Jan. 12 (CBI China) -- Alcoa decided to further cut production 135 kt.

    To cut costs, Alcoa decided to reduce capital spending by 50% in 2009, at the same time further reduce primary aluminum production 135 kt, which makes the size of production reduction at Alcoa reach 750 kt, accounting for about 18% of the company's total output. At the same time, Alcoa also announced 13,500 layoffs, accounting for 13% of its global total number of employees, which means that before the end of 2009, the total number of Alcoa layoffs will reach 15,000 people, accounting for 14.5% of all employees (including contract workers). 

    It is said that the cost-cutting measures will allow Alcoa to have an annual saving of 450 million U.S. dollars.

    (Edited by CBI China)

Aluminum Al
production cut suspension
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