In the steel division, around 3,000 jobs are to be cut after losses.
The German steel and industrial group Thyssenkrupp presented the figures for the 2019/2020 fiscal year that ended at the end of September on Thursday morning.
Then it should show how big the problems of the ailing traditional group are. For the steel sector alone, analysts expect a loss of around 1 billion euros.
The CEO Martina Merz has already prepared the employees for additional job cuts. Thyssenkrupp needs further cost reductions.
“That will mean further job cuts,” she said to the “Frankfurter Allgemeine Zeitung”. A program to cut 3,000 jobs is already running in the steel division.
Merz wants to concentrate Thyssenkrupp on the area of material trading and component production in order to become more independent from the cyclical steel business. Even a complete separation from the traditional core of the group cannot be ruled out.
It is also unclear whether and to what extent the Essenes need state aid. According to the company, discussions are ongoing with the federal government and the state of North Rhine-Westphalia.
