Germany: ThyssenKrupp’s Industrial Solutions division plans to cut 1500 jobs in operational areas as part of its on-going reorganisation process. Around two-thirds of these positions will be based in Germany. The reduction in jobs follows a previous announcement in July 2017 to cut 500 roles in administration, also mostly in Germany. The job losses are part of the division’s ‘planets’ transformation programme, launched in 2016, which is intended to increase the business area’s competitiveness.
“To ensure Industrial Solutions can compete in the market over the long term, we need a more efficient and effective set-up that goes for our cost structure as for our global presence. Although new orders have recovered from their trough, our structures are still oversized measured against orders in hand and our medium-term requirements. We must be able to respond more flexibly to fluctuations in order intake,” said Peter Feldhaus, chief executive officer (CEO) of Industrial Solutions.
