ThyssenKrupp will lay off 5 thousand employees – Kommersant

The German industrial concern ThyssenKrupp is going to carry out a large-scale restructuring of its steelmaking division with the closure of part of its production capacity. The newspaper writes about this Handelsblatt with reference to sources. According to them, this will lead to the reduction of about 5 thousand employees – approximately every fifth of the division’s 27 thousand employees. ThyssenKrupp expects to present the plan in April, Handelsblatt reports. The company stated that the information about the restructuring is not true.

ThyssenKrupp is set to close at least one blast furnace and two rolling mills at its huge steel plant in Duisburg, sources said. The company ranks first in steel production in Germany. The Duisburg plant is designed to produce 11.5 million tons of steel per year, but due to declining demand, production is now only 9 million tons per year. If the restructuring takes place, it will be the biggest cutback in the German steel industry since the merger of Thyssen and Krupp in 1999.

Yana Rozhdestvenskaya