Company to streamline administrative locations globally to reduce complexity and lower costs
Alcoa Corporation (NYSE: AA), a global leader in bauxite, alumina and
aluminum products, today announced that it will consolidate
administrative locations around the globe as it continues to streamline
the Company and lower costs.
Alcoa will close its New York City office and move its global
headquarters and principal executive office to its existing location in
Pittsburgh as of September 1, 2017. In addition, within the next 18
months, another seven administrative locations across the U.S., Europe
and Asia will also close and affected employees will relocate to
remaining office locations or operating facilities or will telecommute.
As a result of today’s announcement, Alcoa expects annual savings of $5
million in corporate overhead once the changes are fully implemented.
“We are taking every opportunity to streamline Alcoa to reduce
complexity,” said Roy Harvey, Chief Executive Officer of Alcoa. “Today’s
announcement is another step in our drive to be a more competitive,
operator-centric Company, with smaller corporate overhead, focused on
profitable and successful operations.”
As part of its strategic priority to reduce complexity, earlier this
year, Alcoa
consolidated its business units. The Company combined the aluminum
smelting, cast products and rolled products businesses, along with the
majority of the energy segment assets, into a new Alcoa Aluminum
business unit. The Company’s three business units are Alcoa Bauxite,
Alcoa Alumina and Alcoa Aluminum.
About Alcoa Corporation
Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina, and
aluminum products, with a strong portfolio of value-added cast and
rolled products and substantial energy assets. Alcoa is built on a
foundation of strong values and operating excellence dating back nearly
130 years to the world-changing discovery that made aluminum an
affordable and vital part of modern life. Since inventing the aluminum
industry, and throughout our history, our talented Alcoans have followed
on with breakthrough innovations and best practices that have led to
efficiency, safety, sustainability, and stronger communities wherever we
operate. Visit us online at www.alcoa.com,
follow @Alcoa on Twitter and on Facebook.
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developments and financial performance through its website at www.alcoa.com.
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the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include those containing such words as
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All statements that reflect the Company’s expectations, assumptions or
projections about the future, other than statements of historical fact,
are forward-looking statements. Forward-looking statements are not
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risks, uncertainties, and changes in circumstances that are difficult to
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in any forward-looking statements are based on reasonable assumptions,
it can give no assurance that these expectations will be attained and it
is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of risks
and uncertainties. Additional information concerning factors that could
cause actual results to differ materially from those projected in the
forward-looking statements is contained in our filings with the
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to update publicly any forward-looking statements, whether in response
to new information, future events or otherwise, except as required by
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