Thyssenkrupp steel board to meet next week as major overhaul takes shape, sources say

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Thyssenkrupp steel board to meet next week as major overhaul takes shape, sources say
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Carbon tax protest at Nova Scotia-New Brunswick border | SaltWire #newbrunswick #novascotia #rallyFRANKFURT/DUESSELDORF - Thyssenkrupp is expected to present initial details of planned major restructuring at its steel division next week, two people familiar with the matter said, in what is likely to result in substantial capacity and job cuts at the unit.

The plan may lay the foundation for thousands of job cuts at the business, they said, though it was not clear yet whether there would be any forced layoffs and that no final decisions had been taken. This could include both job cuts and capacity reductions, Gabriel said, pointing out that while Thyssenkrupp Steel Europe could produce nearly 12 million tonnes of steel a year, it only sold around 9 million tonnes and maybe even less in the future.

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