PITTSBURGH — Alcoa Corporation announced Wednesday that it will move its global headquarters and principal executive office to its existing location in Pittsburgh.
The company said it will consolidate administrative locations around the globe. It will close its New York City office and move its headquarters to Pittsburgh, effective Sept. 1.
Within the next 18 months, another seven administrative locations across the U.S., Europe and Asia will also close. Affected employees will relocate to remaining office locations or operating facilities or will telecommute.
Alcoa, a global leader in bauxite, alumina and aluminum products, said the changes are part of efforts to streamline the company and lower costs. When the changes are fully in place, Alcoa expects annual savings of $5 million.
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Earlier this year, Alcoa combined the aluminum smelting, cast products and rolled products businesses, along with the majority of the energy segment assets, into a new Alcoa Aluminum business unit, according to a news release.