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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.9 - Manufacture of other special-purpose machinery
1,500 jobs Number of planned job losses
Announcement Date
31 August 2017
Employment effect (start)
Foreseen end date
Description
On 31 August 2017 Thyssenkrupp, the German industrial group, announced a plan to cut 1,500 jobs in its industrial plants and shipbuilding arm over the next three years. Most of the job lost will affect Germany, but the plan is to reduce the workforce worldwide and other countries will also be affected by the internal restructuring. The exact distribution of the cuts worldwide is yet to be announced as well as the exact timeframe.
Already in July 2017, the company announced cuts of up to 2000 jobs worldwide and previously, in April, ThyssenKrupp announced to cut 330 jobs in Germany.
ThyssenKrupp has around 150,000 employees worldwide.
Sources
31 August 2017: Reuters
31 August 2017: Channel news
Citation
Eurofound (2017), Thyssenkrupp, Internal restructuring in World, factsheet number 91877, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91877.
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