Alcoa slashes 13,000 jobs

Archiv – The US-based aluminium giant Alcoa is laying off 13,500 staff and 1700 contractors worldwide, as it battles back from a $1.3 billion loss in the last three months of 2008. Half of the overall staff cuts will be from its US and European operations. Alcoa operates in 34 countries.United States | The US-based aluminium giant Alcoa is laying off 13,500 staff and 1700 contractors worldwide, as it battles back from a $1.3 billion loss in the last three months of 2008. Half of the overall staff cuts will be from its US and European operations. Alcoa operates in 34 countries.
The Pittsburgh-based company also said the moves are expected to save the company about $US450 million annually, before taxes. ’These are extraordinary times, requiring speed and decisiveness to address the current economic downturn,’ says Klaus Kleinfeld, Alcoa’s President and CEO.
The news comes after Alcoa announced production reductions last fall. It said on Tuesday it will further limit smelting by more than 135,000 metric tonnes per year, lowering total aluminum output by more than 750,000 metric tonnes annually, or 18%.
Its decision follows that of competitor Rio Tinto last month to cut 14,000 jobs worldwide in order to reduce its $60 billion debt.