Thyssenkrupp Steel's Future Uncertain: 11,000 Jobs at Risk, Jindal's Takeover Bid Considered
Thyssenkrupp's steel division faces an uncertain future, with up to 11,000 jobs at risk due to potential cuts or outsourcing. The company has ended talks for a joint venture and is now considering a surprise takeover offer from Jindal Steel International.
Thyssenkrupp's steel division has been grappling with overcapacities, leading to discussions about job cuts or outsourcing. Around 40% of the division's jobs, approximately 11,000 positions, could be affected. Meanwhile, plans for a steel joint venture with EP Group have fallen through, with EPG set to return its 20% stake in Thyssenkrupp Steel Europe.
The Indian company Jindal Steel International has made a surprise bid to take over Thyssenkrupp. This move has been welcomed by IG Metall and the works council, who had previously criticized EP Group's lack of transparency. Thyssenkrupp has announced it will thoroughly examine the takeover bid and focus discussions on Jindal's indicative offer for Thyssenkrupp Steel Europe.
Thyssenkrupp's steel division faces significant changes, with job cuts or outsourcing on the table and a potential takeover by Jindal Steel International. The company will scrutinize the offer, potentially reshaping the future of the division and its employees.
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