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[United States]
Posted on : Jan 06, 2009
The US-based aluminum 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.

 
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