Russia's United Company RUSAL, the world's largest aluminium producer, will cut 11 percent of its annual aluminium output, 30 percent of alumina output and 5 percent of its staff as it tackles the global economic crisis.
The programme will further enhance RUSAL's competitiveness and support the sustainability of the group's operations during the global economic downturn, UC RUSAL said on Thursday.
UC RUSAL said it would cut aluminium production by a further 320,000 tonnes during the first quarter of 2009, taking total reductions since December 2008 to 500,000 tonnes per year, or 11 percent of the group's total production volumes.
Output of intermediate product alumina would be reduced by 3.45 million tonnes, or 30 percent of total production volumes, by the end of the second quarter of 2009, the company said.
UC RUSAL said it would revisit the schedules for building its Taishet aluminium smelter and the Komi project in northwestern Russia and would cap 2009 expenditure at $500 million.
RUSAL will cut 5 percent of its staff and will reduce production costs by a further 34 percent by the end of the second quarter, on top of a 27 percent reduction achieved by the end of January compared with the third quarter of 2008. (Reporting by Aleksandras Budrys)
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