ThyssenKrupp has announced that it will lay off 6,000 positions, but declined to provide potential unemployed and will negotiate layoffs with labor leaders.
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According to foreign media reports, Thyssenkrupp's new CEO Martina Merz told employees on October 9 that Thyssenkrupp will significantly lay off employees and update the company's structure in November. .
In May, members of the Supervisory Board of ThyssenKrupp Group unanimously approved a comprehensive corporate strategy adjustment plan proposed by the board of directors. The group reportedly announced its openness to the establishment of a new shareholding structure in the automotive parts, plant engineering, marine systems and elevator divisions, but investors have criticized the company as a result of a lack of progress, leading to the termination of CEO Guido Kerkhoff.
Subsequently, Martina Merz, Chairman of the Group's Supervisory Board, became the CEO, and this week held the first senior management meeting as CEO. Following the management meeting, Merz sent a letter to employees stating "this is about strengthening the business and improving performance."
ThyssenKrupp has announced that it will lay off 6,000 positions, but declined to provide potential unemployed and will negotiate layoffs with labor leaders. The company said it will provide the latest information on the restructuring in November, and employees will get clear information in early 2020.
Merz said: "It is not possible without substantial layoffs." He explained that the plan is to make major changes in Component Technologies and Industrial Solutions. The parts technology division will be renamed Automotive Technology and a new structure will be introduced. Marcel Fasswald, CEO of ThyssenKrupp's Industrial Solutions business, has left the company, and the company's plans to sell or list the elevator division will continue.
ThyssenKrupp is ranked 16th in the Global Top 100 Suppliers list by Automotive News Europe, with global sales to automakers of $ 14.43 billion in 2018.