The German corporate giant Thyssen Krupp's steel division is to get rid of 11,000 employees by 2030, either through pure redundancies, 5,000, or by other companies taking over the operations, the company announces.
The operations are making multi-billion losses, partly due to low steel prices on the global market. Talks are currently being held with the Czech billionaire Daniel Kretinsky's corporate group about increasing his ownership in Thyssen Krupp's steel division.
The company employs around 27,000 people.
