Allegheny Technologies Inc. announced plans Monday to cut about 275 salaried positions companywide, with most of the cuts occurring in the specialty steelmaker's flat-rolled business. The stainless steel and alloy metals manufacturer specialty steelmaker said the majority of the job cuts would occur at company operations in southwestern Pennsylvania. However, the company did not specify what facilities or locations would be affected. "We must maintain cost structures in all of our businesses that keep us competitive and deliver profitable performance, even in this difficult market environment. I am convinced that this can be accomplished while retaining the strength to grow with the markets for our specialty materials as the company recovers," Jim Murdy, president and chief executive of Allegheny Technologies, stated yesterday. The cost reductions will be completed by Sept. 30, the company said yesterday. Allegheny Technologies expects to record a one-time, pretax charge of about $5 million, or 4 cents per share after taxes, for the job reductions. The company said the job cuts are expected to provide annual pretax cost savings of about $18 million. Allegheny Technologies made the announcement late yesterday afternoon, after the close of trading. The company's stock closed yesterday at $10.51, down 47 cents a share. Last Wednesday, the Pittsburgh-based company reported a second-quarter loss of $7.5 million, or 9 cents per diluted share. In April, the company posted a first-quarter loss of $11.1 million, or 14 cents a share. Allegheny Technologies, which employs about 10,700 employees worldwide, is the parent of Allegheny Ludlum, the nation's largest stainless steel manufacturer. Allegheny Ludlum employs about 4,500 people at melting and finishing shops in Brackenridge and Natrona in Allegheny County, and in Westmoreland County at Vandergrift, West Leechburg, Bagdad (near Leechburg) and a melt shop in Latrobe. The company also operates a plate-finishing plant in Washington and the Steckel Mill in Houston, both in Washington County. In October of last year, Allegheny Technologies announced that steel-melting operations at Allegheny Ludlum's mill in Houston would be permanently shuttered by the end of the year, a move that left 220 workers without jobs. One month later the specialty steelmaker announced it would lay off another 300 workers companywide.

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