Category: Thyssenkrupp
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Thyssenkrupp steel head prepares staff for ‘tough’ cuts By Reuters
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FRANKFURT (Reuters) – ThyssenKrupp’s (ETR:) steel division’s new head told a German newspaper that its 27,000 steelworkers should prepare for deep cuts, paving the way for a large number of layoffs. “Strict cuts are necessary. We have to become more profitable,” said Dennis Grimm, spokesman for the executive board of…
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Thyssenkrupp swings to quarterly net loss as one-offs bite By Reuters
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By Christoph Steitz FRANKFURT (Reuters) – Thyssenkrupp swung to a net loss in the third quarter on higher-than-expected costs for legacy projects in its plant engineering business, the company said on Wednesday, adding that it had also halted the sale of one of its units. The company said it posted…
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Thyssenkrupp shuts down steel unit’s funding request By Reuters
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FRANKFURT (Reuters) – Thyssenkrupp said on Saturday its steel division must be restructured to finance investment needs from its own earnings but the parent company has secured financial security for the next two years. Thyssenkrupp CEO Miguel Lopez’s comments came after the steel division’s chief said the company needed to…