Thyssenkrupp Steel's 11,000 job cuts to cost hundreds of millions of euros
Thyssenkrupp Steel's restructuring deal, which will cut around 11,000 jobs, will cost the company several hundred million euros, the steel division head Marie Jaroni told a newspaper. It had agreed with the IG Metall union to cut or outsource 40% of its workforce and reduce production capacity to a shipping level of 9 million tons from current 11.5 million tons.