The EU 's threatening non – Thyssen group plans to cut 6,000 jobs after Aus – news


  • The two steel companies Thissencrapp (Germany) and Tata Steel (India) cancel their long-prepared merger.
  • These corporations expect a veto from the European Commission.
  • ThesisCrapp expects to reduce 6,000 jobs in the next three years.
  • On the other hand, the successful lift sector is to be listed on the stock exchange.

CEO Guido has suffered a severe restructuring of the troubled German industrial group Thyssenkrupp. The already advanced fusion of the steel company with the Indian rival Tata style was "in the resistance of the European Commission otherwise," explains Kerkhoff.

Thyssenkrupp also said that the EU was expected to Competition Commission would ban the steel joint venture it was pursuing for more than a year. There are "continuing concerns of the Commission". At the same time, the two companies did not want to make any further success.

Division to the stock market

Because of the anticipated veto of Brussels, the Karkhoff also considers the planned split of Ditsenrapp in two independent, listed companies for materials and industrial goods: "The group will remain intact."

But in order to get new money, Thyssenkrupp now wants to bring the elevator sector to market. What is required investors again and again. With around 50,000 employees worldwide and sales of € 7.7 billion, the division is one of the most important and profitable business units. Following this announcement, the stock price of the docks company has increased by more than 20% temporarily.

Dismantling of 6,000 digits

Following the rejection of the joint venture, Thissencrapp plans to reduce its workforce by 6,000 jobs over the next three years. From this account for about 4,000 jobs in Germany, said CEO Keroffoff.

Dismissals due to operational reasons could not be ruled out in the event of a redundancy program of this size, added Chief Human Resources Officer Oliver Beard. The total number includes 2000 posts that would have been deleted in the Tata Merge. "There is a pretty deep incision," said Burnhard.

For the 27,000 or so steel workers at Thissencrup, the European Commission veto is "a big hit," said Corkhoff. They would be merging with Tata "a future perspective."

Impact in Switzerland is unclear

The size of the work in Switzerland is affected by mining is now unclear. Thyssenkrupp is active in Switzerland in the elevator and escalator business and in material trade. Overall, the group employs about 600 people in Switzerland. "What exactly that means for that business and what locations, we still need detail," he said in a statement.

No comments from the EU

The EU Commission did not want to comment on this announcement by Thyssenkrupp. A spokesperson for Competition Commissioner Marghehe Vestager said the case has not closed yet. Meanwhile, a decision is planned until June 17.

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