Thyssenkrupp Schulte to cut 450 jobs

Thyssenkrupp Schulte, the German steel stockholder unit of thyssenkrupp Materials Services, says it is carrying out a “strategic realignment” of its business model in order to consolidate and further expand its market position.

As part of the restructuring, job cuts and the closure of several sites are unavoidable, Kallanish hears from the firm. In total, approximately 450 jobs are to be affected, and the company intends to make the restructuring socially responsible. Discussions with the relevant co-determination bodies on the details of the transformation will begin shortly, it says.

It cites persistently difficult market conditions in Germany and the process of change which is affecting the European industry and, especially, the materials distribution business.

While demand for steel has been declining for years, the company points to continuously increasing customer demand for materials-related services. As part of its “Materials as a Service” strategy, thyssenkrupp Schulte has already addressed this trend in Germany. The company will focus on strengthening and expanding its service business, it says.

Thyssenkrupp Schulte, headquartered in Essen, has a network of over 40 locations, serving customers from various sectors of the manufacturing industry, including industry, trade and construction. The portfolio ranges from flat products, profiles and tubes to expert advice and a comprehensive range of services along the value chain. It currently employs around 2,300 people.

Christian Koehl Germany