Thyssenkrupp's Steel Division Enforces Strict Cost-Cutting Measures

Facing a challenging market, Thyssenkrupp Steel halts funding for employee perks and plans job cuts amid restructuring.

Thyssenkrupp Steel has introduced a 'Keks-Erlass,' halting the provision of refreshments like coffee and cookies during internal meetings.
The company will no longer fund employee events such as Christmas parties, as part of its stringent cost-saving strategy.
Additional cuts include reduced spending on business travel, gifts, and subscriptions to professional journals.
The steel division is undergoing restructuring, which includes planned job reductions, leading to protests from union IG Metall.
Thyssenkrupp's leadership is exploring options to divest the steel unit, including potential partnerships, to focus on more profitable ventures.