January 8, 2009
Bangkok (ASTV Manager Online) - Aluminium maker Alcoa of the United States planned to lay off 13,500 employees or 13 percent of its total workforce due to economic delay.
Alcoa will also reduce 18 percent a year of its aluminium capacity because of decreasing aluminium orders.
The Pittsburgh-based company, America’s largest aluminium maker, would sell its non-core four businesses, so that it could maintain the employments.
Alcoa announced in October 2008 that it would reduce employees to cut costs as much as possible.
The company’s profits decreased up to 52 percent in the third quarter of last year since the aluminium price rapidly fell.
Its fourth-quarter earnings will be known on January 12.
Alcoa and Chinalco of China hold 12 percent stake in London-listed Rio Tinto.
Alcoa is active in all major aspects of the aluminium industry.
