German steelmaker to fire 2,000

Drop in demand, earnings forces ThyssenKrupp to reorganize

Posted: February 9, 2013 at 3:18 a.m.

A slab of steel moves along a production line during the “hot rolling” process at ThyssenKrupp AG’s steel mill in Duisburg, Germany. ThyssenKrupp said Friday it plans to cut more than 2,000 jobs in Europe.

ThyssenKrupp AG, Germany’s biggest steelmaker, said Friday that it intends to save $670 million by reorganizing its European steel business and cutting more than 2,000 jobs to reduce excess capacity.

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Business, Pages 27 on 02/09/2013