Overview

• Thyssenkrupp has announced spin-offs for Marine Systems, Material Services and Automotive Technology, including selling a minority stake in its Marine Systems division and forming a steel joint venture with EP Group.
• The group recorded a €1.5 billion loss driven by weak demand, high energy costs and global competition, prompting capacity cuts in its steel arm and broader strategic restructuring.
• IG Metall warns the spin-offs could threaten over 20,000 jobs, roughly one in five of the company’s 96,000 employees.
• Union vice chair Jürgen Kerner accuses CEO Miguel López of privileging shareholder returns over worker welfare and criticizes the opaque nature of the plans.
• Supervisory board members are set to vote in June on a stock market listing for Thyssenkrupp Marine Systems, with disputes over future employee representation still unresolved.