Thyssenkrupp May Cut 5,000 Jobs Under Steel Unit Revamp – Handelsblatt

Thyssenkrupp could cut at least 5,000 jobs as part of the planned restructuring of its steel division, the German daily Handelsblatt reported on Wednesday, citing company sources.

The management board of the company is working on a concept, due to be presented in mid-April, which would see the future structure of the unit reduced to 27,000 employees, it added.

Thyssenkrupp declined to comment on the report.

(Reporting by Bartosz Dabrowski and Tom Kaeckenhoff; Editing by Madeline Chambers)