Thyssenkrupp Steel Announces Major Job Cuts, Uncertainty Looms Over HKM's Future

North Rhine-Westphalia's Economy Minister urges clarity on the future of HKM, a key steel producer, as job reductions and ownership changes are planned.

• Thyssenkrupp Steel plans to reduce its workforce from 27,000 to 16,000 by the end of 2030, with 5,000 direct layoffs and 6,000 positions being relocated.
• The planned restructuring includes 1,500 job cuts at Hüttenwerke Krupp Mannesmann (HKM), a joint venture in Duisburg, Germany.
• HKM employs 3,000 people and plays a critical role in steel production and regional value chains in North Rhine-Westphalia.
• North Rhine-Westphalia's Economy Minister Mona Neubaur has called for a clear and sustainable strategy to protect jobs and ensure HKM's long-term competitiveness.
• Thyssenkrupp Steel holds a 50% stake in HKM, with the rest owned by Salzgitter and Vallourec, and has reiterated its urgency to divest from the joint venture.

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