As announced on 29 September 2020, the German industrial group Thyssen-Krupp will be cutting approximately 500 jobs in Germany due to internal restructuring. Affected by the job reductions areThyssen-Krupp’s automotive supply branch which will be divided into two independent business units. Thyssen-Krupp expects its production to recover in two to three years, making changes in the company’s structure necessary. Affected sites include plants in Saxony, Bremen, Baden-Württemberg, Hesse and Saarland. Management, works’ council and IG Metall will start negotiations regarding a social plan shortly.
Overall, Thyssen-Krupp intends to cut 800 jobs worldwide in its automotive supply branch.
Currently, Thyssen-Krupp has 3,200 employees in its automotive supply branch.