Klaus Kleinfeld:

"We are taking a wide range of aggressive, but prudent, measures to ensure that Alcoa maintains its competitive lead in today's challenging markets while also emerging even stronger when the economy recovers."

Alcoa CEO Klaus Kleinfeld announces to slash 13,500 jobs, cut spending, freeze hiring and it sounds like the old times at Siemens AG, in early 2007, when he was still CEO there.What you are running from is what you are running to.