Thyssenkrupp Announces Significant Job Cuts in Automotive Technology Division – News and Statistics
Mar 7, 2025
Thyssenkrupp, a major German industrial conglomerate, has announced plans to reduce its workforce by approximately 1.8 thousand employees within its Automotive Technology division. This decision was reported by Der Spiegel and forms part of a broader strategy to curtail costs by over EUR150 million.
Measures accompanying these workforce reductions include modifications to investment strategies, reductions in working capital, and a temporary hiring freeze for positions above a stipulated salary bracket. As of September in the preceding year, the Automotive Technology division employed over 31,000 individuals. CEO Volkmar Dinstuhl noted that the global automotive industry’s outlook remains frail, necessitating prudent investments in emerging technologies and areas conducive to future expansion.
The European automotive sector, particularly in Germany, is currently grappling with low global demand, elevated energy prices, and intensified competition. The uncertainty stemming from potential tariffs further exacerbates these challenges, prompting several manufacturers and suppliers to announce large-scale restructuring initiatives in recent months.
Further emphasizing its restructuring efforts, Thyssenkrupp Steel disclosed last November its intention to reduce its workforce by 11,000 jobs within the steel division. Approximately 5,000 positions are expected to be eliminated by 2030 due to adjustments in the production network and administrative optimizations, with an additional 6,000 cuts anticipated through outsourcing or business sales.
Source: IndexBox Market Intelligence Platform
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1. INTRODUCTION
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
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MARKET TRENDS
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PRO
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3. MARKET OVERVIEW
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- MARKET SIZE
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4. MOST PROMISING PRODUCT
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5. MOST PROMISING SUPPLYING COUNTRIES
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7. GLOBAL PRODUCTION
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8. GLOBAL IMPORTS
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10. PROFILES OF MAJOR PRODUCERS
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11. COUNTRY PROFILES
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption, By Country, 2018–2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Destination, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Origin, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Consumption, By Country, 2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Production, By Country, 2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, 2012–2024
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