EMCC European Monitoring Centre on Change

Alcoa

Company/Organisation:
Alcoa

Geographic Location

Country: World

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
24.42 - Aluminium production
Number Employed: 100000

Employment Effects

Announcement Date: 08-01-2009
Planned Job Reductions min: 15200
Planned Job Reductions max: 15200
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2009

Additional Information

Alcoa, a US multinational producer of primary aluminium, has announced 15,200 job cuts by the end of 2009 due to the global financial crisis. The restructuring envisages workforce reduction plan which will affect more than 13,500 employees (13% of the company´s worldwide staff) by the end of 2009. An additional 1,700 contractor positions will be eliminated. The company has also put in place a global salary and hiring freeze. Klaus Kleinfeld, Alcoa's chief executive, said "These are extraordinary times requiring extraordinary actions".