Thyssenkrupp Faces Tough Financial Year, Explores Division Sales

Thyssenkrupp, a German industrial giant, is bracing for a challenging financial year, predicting significant losses due to tough market conditions and ongoing restructuring. Despite meeting financial targets for the previous year, the company anticipates a negative free cash flow of between three hundred million and six hundred million euros for the current fiscal year. They expect to incur three hundred fifty million euros in restructuring costs, with eleven thousand job cuts and a twenty-five percent reduction in steel production. The company is also exploring options for its divisions, including a potential takeover of its steel unit by Jindal Steel.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.