German steelmaker Thyssenkrupp to cut 11,000 jobs

NAMPA / Xinhua

2024-11-25

BERLIN, Nov. 25 (Xinhua) -- Germany's largest steelmaker, ThyssenKrupp Steel, announced plans on Monday to cut 5,000 jobs by 2030 and an additional 6,000 through transfers to external service providers or the sale of business activities. The sweeping restructuring plan will reduce its workforce from around 27,000 to 16,000 employees in response to rising costs and declining competitiveness. The company cited weak demand in the steel indust......

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