ter. The Terrace Standard, Wednesday, October 24, 2001 - A9 WE MAKE HOUSE CALLS, OFFICE CALLS, AND GOOD CALLS, One-on-one, we can help you develop a long-term investment strategy that's tailor-made far you. Your goals. Your risk tolerance. Your time frame. All in the comfort of your home or office. jobs ALCAN IS cutting its un- jonized and staff workforce in Kitimat by at least seven per.cent to save money. Voluntary early retire- ment packages were of- fered to more than 170 un- ionized workers and to ap- proximately 30 staff people last week, Says company official Michael Schuster. A handful of staff people were also given no- tice and severance pack- ages last week, he added, Schuster said the cuts reflect the continued weak aluminum market. “The early retirement packages are based on age and: service,” said Schus- Be For more information or an appointment | With no cost or obligation, call: fe Christine McDonald Investment and Retirement Planner (250) 635-8622 ROYAL MUTUAL / FUNDS Menbed of Royal Hank Fingncial Group! Royal Mutual Funds are sold, and investment advice provided, by Royal Mutual Funds Ine. Royal Mutual Funds ine, and Royal Bank of Canada aie separate corporate entities which are affliated. Royal Mutual Funds a Inc, is licensed as a financial services Gira in the province of Quebec q © Registered trademark af Royal Bank of Canada. ™ Trademark of Reyal Bank of Canada, Used under leense, Alcan's Kitimat Works He believes the cuts are the single largest work- force reduction ever an- nounced at Alcan's Kiti- mat operations. There are now about 1,700 people working there. - “At least these are vo- _ luntary and aren’t layoffs,” said Schuster. Alcan will reach its un- ionized employee reduc- ‘tion goal if approximately 130 of the more than 170 people offered early retire- ment incentives leave, he added. Employees have until Nov. 30 to accept their packages but there is no fixed date yet as to when they must retire, Those offered early re- tirement are all over 50 years of age, said Schus- ter. He added that the com- pany will also take care that it won’t lose too many people in any one skilled trade. The cuts also represent a failure of the company’s attempt to export powe into the'U.S; market. ° It shut down two of its older potlines earlier this year and trimmed produc- tion on another line to free up power for resale. ; That was also based on’ low. water levels in its Ne- - chako Reservoir used to generate hydro-electric power and a long-standing contractual commitment to sell power to B.C. Hydro. The company said it couldn't both maintain production and meet that. contract, By cutting production to rns : seli more power, itestima-- 9. Pho, 7, ° eT ted it could meet overall — a a a 7 revenue targets and avoid © <2... Doe PF 6g noe | layoffs, es eae y es J Although Alean did i cee a @ manage to sell for export a = co , small amount of power, 7 |. ; Th # 11: ° . large scale sales “never an o e Se n ve 1C e In ana a did happen,” said Schus- a . . ter. eee Gee “That price has dropped in a very significant way,” Purchase for said Schuster of what eee eee = 3 American buyers were ex- Ps pected to pay. CE Pe “