Steel bosses at Thyssenkrupp announced tougher cuts and layoffs

Dennis Grimm, the new head of the steel division at Thyssenkrupp, announced tighter cuts than previously planned. “The current market situation has deteriorated again in recent months, and unfortunately there is no recovery in sight,” Grimm told “WAZ” (Saturday). Germany's largest steel companies had to react to this. Therefore, the cuts can be deeper than previously planned.

Thyssenkrupp's steel division employs 27,000 people

A new business plan is being developed, Grimm said. Grimm left it open how many jobs would be lost. “We cannot yet calculate exactly how many people we will employ after the business plan is completed and negotiations with employee representatives are completed. But the numbers will be fewer than at present,” said the new council spokesperson.

Thyssenkrupp's steel division is Germany's largest steel producer. 27,000 people work there, of which 13,000 work in Duisburg alone. The division has long suffered from economic downturns and cheap imports. This is one of the reasons why we have to reduce capacity.



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