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Alcoa Reports Big Losses

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Alcoa jarred Wall Street yesterday when it reported larger-than-expected losses, and widespread layoffs. Alcoa's stock fell 10 percent on the New York Stock Exchange. The company--the biggest aluminum company in the world--will cut about 8,000 jobs in 2003. The news comes just weeks after 110 workers were laid off at one of Alcoa's Massena plants. Those layoffs were part of a deal to save the local plant from a complete shutdown. David Sommerstein reports.

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David Sommerstein
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