Union offers Alcoa pay freeze

Workers at Alcoa's Portland smelter have volunteered for a one-year pay freeze as the company battles uncertainty over its future.

Australian Workers' Union secretary Ben Davis said the offer to forgo a pay rise in upcoming Enterprise Agreement negotiations would save the company upwards of $1.5 million over 12 months.

He said a mass meeting of members on Monday voted overwhelmingly to restrict the new agreement for one year, rather than the traditional three years, to allow time for conditions to stabilise.

Alcoa is in discussions with the Victorian government about the pressures it is facing, but previously wouldn't say if it was seeking financial help.

In February a spokesperson told AAP that the company was focused on keeping the Portland smelter "internationally competitive".

The Portland smelter provides 700 direct jobs and about 2000 jobs overall to the Victorian economy.

Alcoa has been contacted for comment.