OTHER NEWS - July 1, 1992

Alcoa Cutting 3% of Work Force: Aluminum Co. of America said it is cutting 2,100 employees worldwide to make it more competitive. It said its second-quarter financial results will include an after-tax charge of $40.6 million, or 48 cents per common share, to cover costs associated with the reductions. The world’s largest aluminum producer had 65,600 employees at the beginning of 1992. Alcoa said attrition, transfers and early retirements will help minimize the number of involuntary separations.