Klaus Kleinfeld, chief executive officer of aluminum company Alocoa Inc., told 60 Minutes the traditional career path is "dead."

As the job market landscape changes, one corporate executive believes the old ways of obtaining employment are done for.

Klaus Kleinfeld, chief executive officer of Alcoa Inc., an aluminum company, talked to "60 Minutes" reporter Byron Pitts about the nature of a the changing job market in an interview Sunday.

The CEO told "60 Minutes" that the old career path of going to grade school, attending college, graduating to a job and then retiring “somewhere in a hot place” doesn’t work anymore.

“That’s been the model of the past,” Kleinfield told "60 Minutes" in the interview. “That’s not working. It’s absolutely not working anymore. I would say it’s dead in every level of society."

Before becoming CEO in 2008, Kleinfield served as Alcoa’s chief operating officer. The company is the third largest aluminum producer in the world.


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