DUESSELDORF – Thyssenkrupp is cutting working hours for 1,300 of its steel workers, the German conglomerate said on Thursday, responding to the impact of the war in Ukraine on the automotive sector and raw material prices.
Last month, Thyssenkrupp suspended its cash flow outlook and said it would announce shortened working hours for steel workers in April due to the military conflict’s impact on the economy, though it did not specify how many employees would be affected.
(Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Zuzanna Szymanska)