Alcoa plans to reduce production and cut 850 jobs

2022-08-19
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Alcoa plans to reduce production and cut 850 jobs in the United States

Alcoa, the world's largest aluminum producer, said on the 23rd that given the sluggish and high demand for aluminum "The certification of materials and the technical service capacity of material suppliers are also the electricity prices required for the utilization of engineering materials. The company will implement production reduction and layoff measures in three domestic smelters.

Alcoa said it would reduce the production of two smelters in Massena, New York, and cut 850 employees in some plants in Washington and Texas. This is a group of cost reduction plans announced by the company earlier this year In part. Alcoa also said it would temporarily reduce the output of its smelter in Washington state if the electricity bill increased as scheduled

kellans, an analyst at Argus research, said Alcoa was trying to cut costs to ensure profits

kellans said, "these measures are normal because of the oversupply of aluminum market, the failure of overall economic recovery and the risk of further decline in aluminum prices."

Alcoa is in the process of business restructuring due to the impact of aluminum prices caused by excess supply and slowing demand in the aviation and energy industries

if the production reduction plan is fully implemented, Alcoa, a company with an annual production capacity of 3.9 million tons of primary aluminum, will have about 675000 tons/year of production capacity idle in the presence of staff

in January, Alcoa decided on a large-scale restructuring plan, announcing that it would cut 8000 jobs, accounting for about 6% of the total number of employees. Most of the layoff plans will be completed this year, mainly for domestic smelters and some service businesses

Alcoa currently plans to immediately cut 150 jobs at its Rockdale, Texas production plant, accounting for 11% of the total number of workers in the plant

the production reduction action of its two smelters in New York will close the annual production capacity of 60000 tons of experimental instruments and equipment, accounting for 24% of the total production capacity. The plan is to be implemented later this week. However, the two aluminum plants have no layoff plans

such materials in the United States can provide heat barriers for today's large spacecraft and high-temperature equipment. Aluminum plans to cut production and cut 700 jobs at Ferndale plant. The smelter has an annual capacity of 170000 tons

alcoa laid off 10000 people in 2002, and the total number of employees reached 127000 at the end of last year

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