Published by Global Banking & Finance Review®
Posted on January 27, 2025
1 min readLast updated: January 27, 2026
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Thyssenkrupp's CEO Miguel Lopez forecasts 2025 as a crucial year for the company's transformation, with major job cuts and outsourcing in the steel sector.
DUESSELDORF (Reuters) - The CEO of German industrial group Thyssenkrupp said on Monday that 2025 would be a decisive year for the group's ongoing transformation.
"The current business year will be a year of decision-making when it comes to our portfolio," CEO Miguel Lopez said in a transcript of his speech to shareholders, to be delivered at the company's annual general meeting on Friday.
He added that Thyssenkrupp's embattled steel business would cut around 5,000 jobs and outsource a further 6,000 positions to contractors.
(Reporting by Tom Kaeckenhoff; Writing by Ludwig Burger; Editing by Rachel More)
CEO Miguel Lopez stated that 2025 would be a decisive year for the group's ongoing transformation.
Thyssenkrupp's steel business plans to cut around 5,000 jobs and outsource a further 6,000 positions to contractors.
He mentioned that the current business year will be a year of decision-making regarding their portfolio.
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