German multinational steel company ThyssenKrupp announced its plan to cut 1,500 jobs in Germany. This is due to severe losses in the last quarters. Most of the job reduction measures will focus mainly on ThyssenKrupp’s administrative center in Essen. Job cuts will be implemented without forced redundancies.
The restructuring in Germany is part of a larger cost-cutting plan (see ThyssenKrupp- WO2013b). For previously announced restructurings in Germany see ThyssenKrupp-DE2012a, ThyssenKrupp-DE2012b, ThyssenKrupp-DE2006a, ThyssenKrupp-DE2006b, ThyssenKrupp-DE2005a and ThyssenKrupp-DE2005b.