---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-24-000034"
form_type: "8-K"
ticker: "AA"
cik: "0001675149"
company_name: "Alcoa Corp"
filed_at: "2024-01-09T23:59:59+00:00"
generated_at: "2026-06-07T01:34:23.217919+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Alcoa to fully curtail Kwinana alumina refinery; Q1 restructuring charge $180M-$200M

## Summary
- Restructuring charges $180M-$200M in Q1 2024; Alcoa's share after-tax $76M-$84M ($0.42-$0.47/share).
- Workforce cuts from ~800 to ~250 by Q3 2024 when production ceases; further reduction to ~50 by Q3 2025.
- Annual net income improvement of ~$70M beginning Q3 2024 vs refinery's 2023 net loss of ~$130M (pre-tax).
- Non-cash DD&A of ~$40M/yr will continue while refinery is curtailed.
- Cash outlays of ~$115M split $80M in 2024 and $35M in 2025.

## SEC filing metadata
- accession: 0001157523-24-000034
- form_type: 8-K
- ticker: AA
- cik: 0001675149
- company_name: Alcoa Corp
- filed_at: 2024-01-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1675149/000115752324000034/0001157523-24-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1675149/000115752324000034/a53878971.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-24-000034
- JSON: https://secwatch.observer/filing/0001157523-24-000034.json
- Plain text: https://secwatch.observer/filing/0001157523-24-000034.txt

## Key facts
- Restructurings & Charges
  Alcoa Corp announced a restructuring with charges of between $180 million and $200 million affecting Kwinana alumina refinery located in Western Australia (approximately 800 employees and this number will be reduced to approximately 250 in the third quarter of 2024).
  - Type: restructuring
  - Charge: between $180 million and $200 million
  - Affected area: Kwinana alumina refinery located in Western Australia
  - Headcount: approximately 800 employees and this number will be reduced to approximately 250 in the third quarter of 2024
  source text: In the first quarter of 2024, Alcoa will record restructuring charges between $180 million and $200 million related to the curtailment of the Refinery.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1675149/000115752324000034/0001157523-24-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.