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Thyssenkrupp Plans to Cut 1,800 Jobs at Weakened Auto Tech Unit

Thyssenkrupp Plans to Cut 1,800 Jobs at Weakened Auto Tech Unit

Thyssenkrupp TKA 4.65%increase; green up pointing triangle said it would cut around 1,800 jobs as part of an effort to reduce costs at its automotive technology business, which posted a slump in sales and orders for the final three months of last year.
The German industrial group said its package of measures, aimed at cutting more than 150 million euros ($161.8 million), would also include a temporary hiring freeze at the unit, which employed around 31,600 workers as of the end of September.
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