thyssenkrupp Steel and IG Metall Finalize Restructuring Agreement
- Agreement runs until September 30, 2030, securing financing for restructuring.
- Industrial concept includes reducing production to 8.7-9 million metric tons.
- Plan involves cutting or outsourcing about 11,000 jobs.
- Investment in direct reduction plant at Duisburg is ongoing.
Agreement Details
thyssenkrupp Steel and IG Metall have finalized a restructuring agreement effective until September 30, 2030. This agreement secures the necessary financing for the restructuring period, with terms kept confidential.
Industrial Concept
The industrial concept, developed by the Steel Executive Board, aims to reduce production capacity to 8.7-9 million metric tons and involves cutting or outsourcing approximately 11,000 jobs. Investments include the ongoing construction of a direct reduction plant at the Duisburg location.
Implementation and Goals
The restructuring process will be implemented immediately to enhance efficiency and achieve competitive cost positions. thyssenkrupp Steel remains committed to long-term carbon-neutral steel production, with the first direct reduction plant under construction at Duisburg.
Source: thyssenkrupp