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Alcoa Plans To Cut 13% Of Global Workforce

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Jan 6, 2009 6:42 pm US/Eastern

Alcoa Plans To Cut 13% Of Global Workforce

PITTSBURGH (AP) ― Aluminum producer Alcoa Inc. says it's cutting about 13 percent of its global work force and slashing spending and output due to the economic downturn.

The Pittsburgh-based company says 1,700 contractors also will be cut and that it's implementing a global salary and hiring freeze.

As a result of its actions, Alcoa expects fourth-quarter charges of between $900 million and $950 million.

The company expects to report quarterly results Jan. 12.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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