The economic downturn, including the Automotive companies' woes, are seriously hurting basic commodities. Aluminium producer Alcoa is going through some pain, including:
- Laying off 13.5K - 15K employees (13 - 15%). Also freezing salaries, and new hires, and eliminating contract positions
- 50% reduction in capital expenditures in 2009
- Cutting 750K tonnes/year of output (18%)
- Selling four business units
Hopefully these measures keep the rest of their employees safe in 2009.
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