London, 22 May — ThyssenKrupp Schulte will close seven sites as part of its restructuring drive, market sources told today. The company will close stockholding warehouses in Braunschweig, Rheine, Munich, Nuremberg, Freiberg, Mannheim, and Frankfurt. Last month, ThyssenKrupp Schulte announced plans to close sites and cut around 450 jobs without specifying the affected locations. The company cited declining materials demand and increased demand for materials-related services as reasons for the restructuring. ThyssenKrupp Schulte, a part of ThyssenKrupp Materials Services, distributes stainless, carbon, and non-ferrous metals from approximately 40 locations. Discussions regarding the affected locations are ongoing, as detailed transformation plans are subject to negotiations with co-determination bodies. A company spokesperson emphasized the goal of enhancing profitability and adapting the business model to meet evolving customer needs during this restructuring process.
ThyssenKrupp Schulte to Close Seven Sites in Germany
Date:
Updated: [falahcoin_post_modified_date]
More like thisRelated
Revolutionary Small Business Exchange Network Connects Sellers and Buyers
Revolutionary SBEN connects small business sellers and buyers, transforming the way businesses are bought and sold in the U.S.
District 1 Commissioner Race Results Delayed by Recounts & Ballot Reviews, US
District 1 Commissioner Race in Orange County faces delays with recounts and ballot reviews. Find out who will come out on top in this close election.
Fed Minutes Hint at Potential Rate Cut in September amid Economic Uncertainty, US
Federal Reserve minutes suggest potential rate cut in September amid economic uncertainty. Find out more about the upcoming policy decisions.
Baltimore Orioles Host First-Ever ‘Faith Night’ with Players Sharing Testimonies, US
Experience the powerful testimonies of Baltimore Orioles players on their first-ever 'Faith Night.' Hear how their faith impacts their lives on and off the field.
