ThyssenKrupp Material Services

Type
Closure
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
(24 - 25) Manufacture of metals
25.9 - Manufacture of other fabricated metal products
25.99 - Manufacture of other fabricated metal products n.e.c.
260 jobs
Number of planned job losses
Job loss
Announcement Date
11 March 2014
Employment effect (start)
11 March 2014
Foreseen end date

Description

German steel company ThyssenKrupp will cut 260 jobs by closing its Railway section until the end of the accounting year 2014/2015. This is a result of cost pressure.

ThyssenKrupp failed to find an investor for its Railway/Construction sector and will now discontinue production of rails, while the construction section will be kept up. Talks with worker representatives have been announced.

The ERM previously reported on job cuts at ThyssenKrupp announced in May 2013.

Sources

  • 11 March 2014: Kölnische Rundschau
  • 11 March 2014: ThyssenKrupp (Press release)
  • 11 March 2014: Frankfurter Allgemeine Zeitung
  • 10 March 2014: Der Westen

Citation

Eurofound (2014), ThyssenKrupp Material Services, Closure in Germany, factsheet number 76716, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76716.