Motilal Oswal
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Motilal Oswal
Infrastructure

Thyssenkrupp to seek new steel partners after abandoning merger with Tata Steel, CEO tells paper

Updated : May 13, 2019 07:34 AM IST

Kerkhoff ditched a restructuring plan on Friday, in which the merger was a key part, and resolved instead to transform the steel-to-submarines group into a holding company and list its profitable elevators business.
He has since agreed on a way forward with labour unions for his new strategy, which foresees 6,000 job cuts, about 4 percent of the Thyssenkrupp workforce. The blueprint will go to a supervisory board vote on May 21.
Thyssenkrupp to seek new steel partners after abandoning merger with Tata Steel, CEO tells paper
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