Thyssenkrupp puts 1,300 steel workers on short working hours
2022.04.14 14:26
FILE PHOTO: A steel worker of Germany’s industrial conglomerate ThyssenKrupp AG takes a sample of raw iron from a blast furnace at Germany’s largest steel factory in Duisburg, Germany, January 28, 2019. REUTERS/Wolfgang Rattay/File Photo
DUESSELDORF (Reuters) – Thyssenkrupp (ETR:TKAG) is cutting working hours for 1,300 of its steel workers, the German conglomerate said on Thursday, responding to the impact of the war in Ukraine on the automotive sector and raw material prices.
Last month, Thyssenkrupp suspended its cash flow outlook and said it would announce shortened working hours for steel workers in April due to the military conflict’s impact on the economy, though it did not specify how many employees would be affected.
