Alcoa Inc. plans a massive restructuring effort designed to improve profits and efficiency. Expected to save about $125 million annually before taxes, the reorganization will include the elimination of some 6,700 jobs, or about 5% of Alcoa’s 129,000-person workforce, and the closure and/or consolidation of several facilities around the world. The supplier says it will incur fourth-quarter charges of $375 million-$425 million due to the changes. In addition, Alcoa signs a letter intent with ...

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