PITTSBURGH–(BUSINESS WIRE)–Allegheny Technologies Incorporated (NYSE: ATI) today announced the next
phase in the restructuring of its Flat Rolled Products (FRP) operations
with the reduction of approximately one third of FRPs salaried
workforce through the elimination of over 250 positions. This workforce
reduction will be completed by the end of the second quarter 2016. As a
result of these actions, ATI will record a $9 million severance charge
in first quarter 2016 results. These actions are expected to generate
annualized cost savings benefits of over $30 million beginning in the
third quarter 2016.
Reducing our flat-rolled products business…
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