Alcoa cutting 6,500 jobs

Pittsburgh-based aluminum maker Alcoa Inc. is reducing its workforce 4.6%, or by 6,500 employees, at 40 locations in the Americas and Europe and will close plants to reduce costs amid falling demand from the construction and automotive industries. U.S. shipments of aluminum have fallen 14% through August from the year-earlier period. Aluminum on the London Metal Exchange yesterday declined $20.40

Tim Parry

Nov. 20, 2001

U.S. shipments of aluminum have fallen 14% through August from the year-earlier period. Aluminum on the London Metal Exchange yesterday declined $20.40 to $1,360.30 a metric ton, and have dropped 11% this year.