Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Basic Metal And Fabricated Metal Products
Manufacture Of Basic Metals
24.52 - Casting of steel

500 - 800 jobs
Number of planned job losses
Job loss
Announcement Date
22 January 2023
Employment effect (start)
22 January 2023
Foreseen end date
1 January 2033

Description

As announced on 22 January 2023, the German steel manufacturer Salzgitter AG is planning to reduce the number of its employees in Germany by 500 to 800 people until 2033. According to the company, fewer employees will be needed in the future due to the continuous conversion of its production to carbon-neutral processes. The job reduction will exclusively be achieved via the age pyramid – retiring employees will not be replaced. Salzgitter AG expects, that 30% of its employees will have retired by 2030.

Currently Salzgitter has approximately 24,000 employees worldwide.


Sources

Citation

Eurofound (2023), Salzgitter AG, Internal restructuring in Germany, factsheet number 108234, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/108234.