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Thyssenkrupp to Cut Admin Jobs to Cut Cost of EUR 2 billion

Steel News - Published on Wed, 09 Oct 2019

Image Source: Automotive News
Reuters quoted two people familiar with the matter as saying that thyssenkrupp is slashing some administrative jobs to cut down on the more than 2 billion euros of costs it incurs in that field each year. The sources said that a majority of the 300 administrative roles at Thyssenkrupp’s car parts and plant engineering divisions will be cut. New Chief Executive ms Martina Merz will discuss the leaner set-up at a meeting with top-level managers on Tuesday where she will present more details of a previously announced strategy to simplify the group.

Thyssenkrupp announced in May a major strategic shift, pursuing a full or partial sale of its elevator unit and seeking buyers for its struggling plant engineering, car parts and shipbuilding divisions.

Source :

Posted By : Ratan Singh on Wed, 09 Oct 2019
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