Alcoa Restructures Salaried Workforce in the Quad Cities.RIVERDALE, Iowa Riverdale is a city in Scott County, Iowa, United States. The population was 656 at the 2000 census. Alcoa has a giant aluminum rolling mill in Riverdale that employs about 2,000 people. -- Alcoa (NYSE NYSE See: New York Stock Exchange :AA) today announced that it will restructure its salaried workforce in the Quad Cities
The Quad Cities are a group of cities which flank the Mississippi River in Iowa and Illinois in the midwestern United States. during the next 10 days. The restructuring will result in a salaried workforce reduction of approximately 20 percent. At this time hourly workforce reductions are not anticipated. "The reorganization will bring us more in line with our competitors," said Mick Wallis, President - North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Mill Products. "We must become leaner, more nimble, and able to change faster. The pace for improving our business is at a much higher rate than ever before, and all of us at Alcoa must feel an intense sense of urgency to meet the challenges before us." The final determination and communication of the changes will be made by mid-March. In addition to the salaried reduction, a hiring freeze Noun 1. hiring freeze - a freeze on hiring freeze - fixing (of prices or wages etc) at a particular level; "a freeze on hiring" for all employees has been in effect since December. "During 2004 Alcoa's Davenport Works hired nearly 400 new production employees to better meet increased demand from customers," explained Mark Vrablec, Director of Manufacturing. "Orders for products we make in the Quad Cities are strong, but our cost structure is still too high to be as competitive as we need in order to survive in this globally competitive environment." Career Transition and Employee Assistance Program services will be provided to affected employees in addition to any separation package they qualify for based on company eligibility requirements. The last workforce reduction at Alcoa Davenport Works was in January of 2002. At that time, the plant reduced its employment levels by 221 employees due to weak demand for aerospace products following the attacks of 9/11. Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding Wikipedia is not the place for advertisement or self-advertising. Vinyl siding, first introduced to the exterior cladding market in the late 1950s, is an alternative to aluminum siding, fiber cement siding, and timber siding. , closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 131,000 employees in 43 countries and has been a member of the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. for 45 years and the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Sustainability Indexes since 2001. More information can be found at www.alcoa.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion