The German elevator-to-car parts conglomerate Thyssenkrupp will cut 3,000 jobs a...
FILE PHOTO: Thyssenkrupp's logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle/File Photo
Jobs will be cut in a socially responsible way, with no forced layoffs until March 31, 2026, Thyssenkrupp said. As a result of the pandemic, Thyssenkrupp said it will make production adjustments in its steel business. The package also requires Thyssenkrupp Steel Europe’s operations to increase short-time work pay to 80%, according to the statement.
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