"thyssenkrupp Steel
$TKA (-1.72%) presents key points for industrial future concept"
Key points:
- Lowering the operating point to a dispatch level of 8.7 to 9.0 million tons.
- Further processing site in Kreuztal-Eichen to be closed.
- The aim is to cut around 5,000 jobs by 2030 through adjustments in production and administration. In addition, a further 6,000 jobs are to be transferred to external service providers or the sale of business activities.
- Reduction of personnel costs by an average of ten percent in the coming years to a competitive cost level.
- Future concept forms the basis for discussions with employee representatives, the preparation of the business plan and the IDW S6 report.
Info, press releases and graphics - thyssenkrupp
thyssenkrupp Steel Europe is planning a far-reaching reorganization with drastic cuts by 2030.
A total of 5,000 jobs are to be cut and a further 6,000 jobs outsourced to external service providers.
This would reduce the current workforce of 27,000 to around 16,000.
At the same time, production capacities are to be reduced from 11.5 million to 8.7 to 9.0 million tons per year and personnel costs cut by an average of ten percent.
The announcement has triggered massive criticism. IG Metall speaks of a "clear cut" and announces fierce resistance, in particular against compulsory redundancies and site closures.
IG Metall district manager Knut Giesler emphasized that the planned measures were "a catastrophe" for employees and North Rhine-Westphalia as an industrial location. North Rhine-Westphalia's Minister President Hendrik Wüst also called for socially responsible implementation and urged Thyssenkrupp to live up to its responsibilities.
In response to the weak demand and high international competitive pressure, thyssenkrupp wants to make steel production more efficient.
A central point is the planned greater independence of the steel division.
The Czech energy supplier EPCG, which already holds 20 percent of the company, could increase its share to 50 percent.
Despite the savings, thyssenkrupp is sticking to its long-term focus on "green steel" as a technology of the future. -ntv
