Alcoa Inc.

Alcoa Inc. is the world's largest producer of aluminum. The company's operations include bauxite mining, alumina refining and aluminum smelting. Alcoa was established in 1888 as the Pittsburgh Reduction Company. The name Alcoa was adopted officially in 1907 as an acronym for The Aluminum Company of America.

Alcoa announced that it lost $1.19 billion for the fourth quarter of 2008. The company planned a round of layoffs in January 2009, the third round of layoffs in three months.Bloomberg.com: Alcoa to Reduce Capacity By 18%, Cut 13,500 Workers (January 6, 2009)

In January, 2009, Alcoa stated it would layoff 13,500 workers, the third round of layoffs in three months. Alcoa lost $1.19 billion in the fourth quarter of 2008.The financial decline was attributed to the low demand for aluminum in automobiles and appliances.Bloomberg.com: Alcoa to Reduce Capacity By 18%, Cut 13,500 Workers (January 6, 2009)

• 1886: Charles Martin Hall electrolyzed alumina dissolved in molten cryolite, an inexpensive method for isolating pure aluminum from its compounds
• 1907: The Pittsburgh Reduction Company was renamed Aluminum Company of America
• 1938: U.S. Department of Justice charges Alcoa with illegal monopolization
• 1942: The case was dismissed

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