German union fears 20,000 job cuts at Thyssenkrupp, newspaper reports

ReutersMay 30, 2025 12:10 PM

BERLIN, May 30 (Reuters) - Germany's IG Metall union sees more than 20,000 jobs at risk at Thyssenkrupp TKAG.DE, Sueddeutsche Zeitung reported on Friday, three days after the conglomerate announced plans to sell minority stakes in three divisions as part of a wider overhaul.

"The plans could see more than 20,000 employees' positions slashed," said Juergen Kerner, deputy chairman of IG Metall and Thyssenkrupp supervisory board member, told the newspaper.

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