by Calculated Risk on 1/12/2009 04:21:00 PM

From MarketWatch: Alcoa swings to loss as demand, sales slump

Alcoa said it lost $1.2 billion ... Sales fell to $5.7 billion from $7 billion. Alcoa is in the midst of cutting 15,000 jobs, curbing more production, and slashing its capital budget to make it through the downtrodden economy.

Alcoa announced the job cuts and the 50% reduction in planned capital expenditures (a reduction of $1.8 billion) last week. Still pretty amazing numbers ...