Thyssenkrupp considers production cuts as coronavirus spreads
FILE PHOTO: Thyssenkrupp's logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle/File Photo
DUESSELDORF, Germany (Reuters) - Thyssenkrupp
The car industry is Thyssenkrupp's single biggest customer group, buying numerous components and steel parts from the steel-to-submarines conglomerate.
"We want to keep employed as many employees as possible, even if we are partially running out of work," Thyssenkrupp board member Oliver Burkhard said in a statement.
"To do so we will be looking at all options, including short-time working allowances," Burkhard, Thyssenkrupp's chief human resources officer, said.
Earlier this week, several carmakers, including Volkswagen
(Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Riham Alkousaa and Jane Merriman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skydance expects to more than double its revenue in coming years, WSJ reports
- UN warns 800,000 people in Sudan city in 'extreme, immediate danger'
- Fed survey cites inflation, US election as key financial stability risks
Create E-mail Alert Related Categories
ReutersRelated Entities
Merriman Curhan FordSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!