http://www.marketwatch.com/news/story/Alcoa-cuts-job-output-cope/story.aspx?guid={F6DCE3C3-2CF8-46C9-BEF3-4B699EE9CA31}
By Matt Andrejczak
Last update: 4:21 p.m. EST Jan. 6, 2009
SAN FRANCISCO (MarketWatch) -- Alcoa Inc. (AA): late Tuesday said it plans to cut 13% of its global workforce, sell four business units, cut output, freeze salaries and hiring efforts. The Pittsburgh-based aluminum giant said it is taking the steps to conserve cash in the current economic downturn. The meausures will result in a fourth-quarter charge of $900 million to $950 million after tax, or $1.13 to $1.19 a share. Alcoa, a Dow Jones Industrials Average component, reports earnings Jan. 12.
By Matt Andrejczak
Last update: 4:21 p.m. EST Jan. 6, 2009
SAN FRANCISCO (MarketWatch) -- Alcoa Inc. (AA): late Tuesday said it plans to cut 13% of its global workforce, sell four business units, cut output, freeze salaries and hiring efforts. The Pittsburgh-based aluminum giant said it is taking the steps to conserve cash in the current economic downturn. The meausures will result in a fourth-quarter charge of $900 million to $950 million after tax, or $1.13 to $1.19 a share. Alcoa, a Dow Jones Industrials Average component, reports earnings Jan. 12.
