Thyssen: announces 11 thousand redundancies due to coronavirus

The German steel giant Thyssen announces the cut of 11 thousand jobs, almost double what was estimated in May 2019. This was stated in a note indicating that the drastic decision is due to the need to "direct the group market developments in the long term and coping with the effects of the coronavirus ".

Of the 6 thousand seats announced in 2019, the group has already cut 3,600 and aims to reach 11 thousand "in the next 3 years".