Thyssenkrupp steel, workers agree on site closures, less working hours in revamp
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 12 2025
0mins
Source: Reuters
Thyssenkrupp Restructuring Agreement: Thyssenkrupp and trade union IG Metall have reached an agreement involving reduced working hours, lower bonuses, and site closures as part of a restructuring plan for Germany's largest steelmaker, aiming to transform the company into a holding entity.
Job Cuts and Production Capacity: The deal includes plans to cut or outsource up to 11,000 jobs at the steel unit TKSE and reduce annual production capacity from 11.5 million tons to between 8.7 and 9.0 million tons, pending approval from IG Metall members and future financing agreements.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
