Thyssenkrupp Says Less Short-time Work At Steel Unit, But Crisis Not Over
- Oct 24, 2020-
Thyssenkrupp's steel unit, which Britain's Liberty Steel wants to buy, has cut reliance on shortened working hours, a spokesman said on Thursday, adding that alone was not yet a sign of a sustainable demand recovery"The economic collapse caused by COVID-19 is not over vet, even thouch some markets show signs of recovery How sustainable these trends are is currently unforeseeable " the spokesman saidThyssenkrupp. Europe's second-largest steelmaker. continues to rely on the instrument of shortened workino hours but could reduce it by about a quarter compared to the summer months, he added.The group will review the situation by the end of the vear to decide whether it will still need short-time work in.2021.
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