Workforce Restructuring
Thyssenkrupp Steel announced plans to reduce its workforce by approximately 11,000 by 2030. This includes cutting 5,000 jobs in production and administration. An additional 6,000 positions will be transferred to external service providers or eliminated through the sale of certain business activities.

Capacity Reduction Plans
The steelmaker plans to scale back its annual production from 11.5 million tonnes to 8.7-9 million tonnes, aligning with the shipment volume of the previous fiscal year. This adjustment aims to match future market conditions and expectations, as outlined in the company’s strategic framework.

Asset Sales and Site Closures
Thyssenkrupp Steel’s withdrawal from Hüttenwerke Krupp Mannesmann (HKM) remains central to its capacity reduction strategy. The company intends to sell its HKM shares. If a sale proves unfeasible, discussions with other shareholders about plant closure scenarios will be initiated. Additionally, a processing site in Kreuztal-Eichen is slated for closure.

Leadership Perspective
CEO Dennis Grimm emphasized the importance of optimizing and streamlining the production network for future sustainability, acknowledging the challenges this entails. Marie Jaroni, Chief Transformation Officer, highlighted the need to bridge gaps in operational efficiency and profitability to secure a competitive edge.

Commitment to Green Transition
Thyssenkrupp Steel reaffirmed its commitment to green steel production and carbon neutrality. The company is proceeding with the construction of a direct reduction plant but will decide on building additional facilities based on future economic, technological, and political conditions.

Overview
With approximately 27,000 employees, Thyssenkrupp Steel’s restructuring efforts represent a significant transformation aimed at aligning its operations with evolving market demands and sustainability goals.