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Alcoa Corporation to move Headquarters back to Pittsburgh, from New York City
April 21, 2017: Officials at the Alcoa Corporation announced on Wednesday afternoon, April 19, 2017, that the company's Pittsburgh Office will soon be the company’s its global Headquarters again, a decade after its predecessor, Alcoa Inc., left for New York City. Alcoa officials said in a statement that its Headquarters in New York would be one of seven offices in the U.S., Europe and Asia that would shut in the next eighteen months in a cost-cutting initiative. Alcoa had kept its offices in the North Shore neighborhood of Pittsburgh even after it moved Headquarters to Manhattan, with the bulk of its administrative functions remaining in Pittsburgh. The shift back to Pittsburgh is scheduled to be effective on Sept. 1, 2017. The company loses a New York office that was where the company's top management operated in proximity to the global financial capital. The company expects to save $5 million per year from the consolidation. “We are taking every opportunity to streamline Alcoa to reduce complexity," said Roy Harvey, the Chief Executive Officer of Alcoa, in a statement. "Today’s announcement is another step in our drive to be a more competitive, operator-centric company, with smaller corporate overhead, focused on profitable and successful operations.”
Attribution: The Pittsburgh Business Times