Germany’s largest flat steel manufacturer, ThyssenKrupp Steel, is set to lay off a large chunk of its workforce in an effort to cut costs.
The company is aiming to cut “around 5,000 jobs by 2030 through adjustments in production and administration, while a further tranche of 6,000 jobs is to be transferred to external service providers or shed through the sale of business activities,” ThyssenKrupp Steel said in a Nov. 25 statement.
