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. Last Updated: 07/27/2016

RusAl to Ax 69,000 Jobs

Russian Aluminum, which makes one-eighth of the world's aluminum, plans to slash 10 percent of its 69,000 workforce by year's end to cut operating costs.

RusAl, which is the world's second-biggest aluminum producer by output behind Alcoa Inc., has been cutting costs and improving management at smelters.

RusAl accounts for about 70 percent of Russia's aluminum and exports 90 percent of its output. The company produced 2,309 metric tons of aluminum last year.