Alcoa To Begin Formal Process For Collective Dismissal Of Employees At San Ciprin Aluminum Facility

(RTTNews) - Alcoa Corp. (AA) announced Wednesday that it plans to begin a formal process for the collective dismissal of employees at its San Ciprián aluminum facility in Spain on June 25, 2020.

The Company envisions a restructuring for the aluminum plant that retains a portion of the casthouse in operation. A collective dismissal could potentially affect up to 534 employees of the aluminum plant. No final decisions will be made until the mandatory, formal consultation process is complete.

The aluminum smelter has incurred significant and recurring financial losses, which are expected to continue.

The San Ciprián site has both an aluminum plant and alumina refinery, which is not affected by this formal consultation process.

On May 28, Alcoa launched an informal process with the workers' representatives to discuss significant and unsustainable circumstances at the aluminum plant. The Company now intends to begin the formal 30-day consultation period with the Works Council to achieve the best possible outcome for the Company and its workforce.