FACTBOX - Alcoa actions to counter economic downturn
NEW YORK (Reuters) - Following are the actions announced by Alcoa Inc (AA.N) on Tuesday to address the economic downturn:
* Primary aluminium smelting cuts to reduce output by more than 750,000 tonnes per year, or 18 percent of annualized output.
* Alumina production to be cut to a total of 1.5 million tonnes per year.
* Total headcount cut by more than 13,500, or 13 percent of Alcoa's worldwide workforce, by the end of 2009.
* An additional 1,700 contractor positions will be eliminated.
* A global salary and hiring freeze.
* Procurement action to lower costs for energy, coke, caustic soda and aluminium fluoride.
* Initiatives to secure raw materials from alternate suppliers.
* Divesting four non-core downstream businesses: Electrical and Electronic Systems; Global Foil; Cast Auto Wheels; and Transportation Products Europe. Continued...
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