ThyssenKrupp

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Germany, other locations
Sector
Adminstrative / Support Services
82 - Office administrative, office support and other business support activities
82 - Office administrative, office support and other business support activities
82 - Office administrative, office support and other business support activities
2,000 - 2,500 jobs
Number of planned job losses
Job loss
Announcement Date
11 July 2017
Employment effect (start)
Foreseen end date
1 September 2020

Description

ThyssenKrupp, the German industrial group, announced a plan to cut between 2,000 and 2,500 administrative jobs worldwide by September 2020. About half of the job cuts will affect Germany where the group plans to cut between 1,000 and 1,250 jobs. Other locations have not yet been reported. The company intends to implement most of the job reductions through natural attrition, part-time work and early retirement. The measures are part of a savings programme aimed at increasing the efficiency within the department, saving around €400 million. 

ThyssenKrupp employs 159,000 people worldwide. Currently, 18,000 employees work in the administration departments. 

Sources

  • 11 July 2017: economictimes
  • 11 July 2017: Market Watch

Citation

Eurofound (2017), ThyssenKrupp, Internal restructuring in World, factsheet number 91641, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91641.