said it would cut 6,500 more jobs in the latest phase of its ongoing restructuring.
The Pittsburgh-based aluminum giant said it expects to save $150 million a year by closing and consolidating some plants. The layoffs come on top of 1,800 firings the company oversaw during its first quarter.
"When we created a new global business structure last year, we took a new look at optimizing our operations in order to better serve our customers," said CEO Alain Belda. "Today's actions demonstrate the value of that new design by showing that we can accelerate cost savings and put the company on a solid footing for the long term."
Alcoa said its second quarter will be littered with unusual items. The company will record an after-tax profit of $219 million, or a quarter a share, on the sale of its shares in Elkem, the Norwegian metals company. Alcoa also expects to record a $100 million to $120 million net tax benefit in the quarter, and after-tax charges of $220 million to $250 million, 25 to 28 cents per share, on the restructuring.
Alcoa dropped 50 cents to $27.19 in regular action Thursday before gaining back 4 cents in after-hours trading.