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To: craig crawford who wrote (933)	11/20/2001 4:43:25 PM
From: craig crawford	Respond to of 1643

Aluminium giant axes 6,500 jobs ananova.com Alcoa is slashing 6,500 jobs around the world, some of them in Britain. The Pittsburgh-based company is to close a plant in Lebanon County, Pennsylvania, as well as facilities in Europe, as part of a restructuring programme. The cuts at the world's largest aluminium company represent 4.6% of its overall workforce of 140,000. Company spokesman Jake Siewert says 1,100 workers at facilities in the UK, Holland and Germany will receive their notices today. The cuts will affect employees at 40 locations. Alcoa says it will take a hit of up to £176 million in the fourth quarter. Severance costs will account for about half of the charges, with rationalisation of assets making up the remainder. Officials at the firm say acquisitions in recent years made the job reductions necessary. Alcoa bought Reynolds Metals in May, 2000, and has made several other transactions in recent months. Chairman and chief executive Alain Belda says the restructuring is the result of a strategic review of the company's assets. Mr Belda says: "As a result of these decisions, Alcoa will emerge stronger, more competitive and better aligned to meet the needs of our customers."