Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Salzgitter, a German steel manufacturer, has announced its takeover of HKM, the Duisburg steelworks, a move that will result in around 2,000 job cuts by the end of 2028.
The restructuring is being driven by the transition towards green steel production. Salzgitter plans to invest in an electric arc furnace, which is expected to significantly reduce CO₂ emissions and help secure the long-term viability of the site. The company has emphasised that it would not have been able to proceed with the full acquisition without the planned workforce reduction.
The job reductions are intended to be implemented in a socially responsible manner, although the company has not disclosed any specific measures.
HKM most recently employed around 3,000 people. Following the restructuring, the workforce is expected to be reduced to approximately 1,000 employees. Prior to the transaction, Thyssenkrupp Steel Europe (TKSE) held a 50% stake in HKM, while Salzgitter and Vallourec owned 30% and 20% respectively.
Eurofound (2026), HKM, Merger/Acquisition in Germany, factsheet number 300730, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300730.
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