Alcoa, producer of aluminum, is set to layoff 13%, or 13,500, of it’s workforce amid the economic slowdown. In addition to this layoff, the company has also reduced it’s contractor workforce by 1,700 and has put in place a global salary freeze.
While it’s good in a way to see a company taking proactive steps to stem financial problems, lets hope it extends to the fat cat executives that normally get huge bonuses.
