Alcoa cuts 6,500 jobs in Americas and Europe and closes plant in Pennsylvania
Monday, November 19th 2001, 12:00 am
By: News On 6
PITTSBURGH (AP) _ Alcoa Inc., the world's largest aluminum company, will slash 6,500 jobs at facilities in the Americas and Europe and is closing a plant in Pennsylvania.
The cuts, part of a restructuring intended to make the company more efficient, represent 4.6 percent of Alcoa's worldwide work force of 140,000.
Alcoa said the job reductions announced Monday will result in an after-tax charge of as much as $250 million in the fourth quarter.
The layoffs include the closing of a plant in Lebanon County, Pa., that will affect 240 workers, company spokesman Jake Siewert said. The plant makes products for the automotive and container industries.
Officials of the Pittsburgh-based company said recent acquisitions made the job reductions necessary. The company bought Reynolds Metals Co. for stock in May 2000 and has made several other transactions in recent months.
``As a result of these decisions, Alcoa will emerge stronger, more competitive and better aligned to meet the needs of our customers,'' said Alcoa chairman and CEO Alain Belda.