EMCC European Monitoring Centre on Change

ThyssenKrupp

Company/Organisation:
ThyssenKrupp

Geographic Location

Country: Germany

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
24.10 - Manufacture of basic iron and steel and of ferro-alloys
Number Employed: 28000

Employment Effects

Announcement Date: 25-03-2020
Planned Job Reductions min: 3000
Planned Job Reductions max: 3000
Type of Restructuring: Internal restructuring
Employment Effect Start: 25-03-2020
Other Job Reduction Measures: 3000

Additional Information

On 25 March 2020, the German steel manufacturer ThyssenKrupp confirmed that it will be cutting 3,000 jobs due to internal restructuring. ThyssenKrupp has been struggling in the last two years. According to management, important decisions were delayed and this job reduction will ensure the company’s long-term competitiveness on the steel market. The job reduction will affect 2,000 employees in production and 1,000 employees in administration. ThyssenKrupp will try to avoid direct dismissals. Furthermore IG Metall and ThyssenKrupp were able to agree upon a new collective bargaining agreement and an assistance package for the Covid-19 crisis.

The company has also agreed short-time work due to the Covid-19 crisis. The agreed short-time work allowance amounts to 80 percent of the previous wages. It is not clear how many workers will be involved.

In 2019 the company announced a worldwide restructuring of 6,000 jobs

ThyssenKrupp has 28,000 employees.

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