Aluminum producer Alcoa plans to cut another 5 percent of its workforce in a second phase of restructuring. In January, the company announced it was streamlining operations to fit its new global business structure and improve efficiency. This resulted in the elimination of 1800 jobs over the course of the first quarter. Alcoa says this second phase is aimed at improving efficiency in its automotive operations.
See "Alcoa slashes 6,500 more jobs", CNN, June 23, 2005