Allegheny Technologies cuts costs

Allegheny Technologies Inc. has announced workforce reductions of approximately 275 salaried employees across the company. These cost reduction actions predominantly involve the company’s Flat Rolled Product segment and should be substantially completed by the end of the third quarter 2002. “We must maintain cost structures in all of our businesses that keep us competitive and deliver profitable performance even in this difficult market environment. I am convinced that this can be accomplished, while retaining the strength to grow with the markets for our specialty materials as the economy recovers,” said Jim Murdy, President and CEO. “It is regrettable that the current weak economic conditions are forcing us and so many other companies across America to eliminate jobs and temporarily layoff both salaried and hourly employees.”

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