n a move that underscores the tough challenges facing the steel industry, Thyssenkrupp Steel Europe (TKSE) has announced plans to reduce its workforce by 11,000 jobs. Of these, 5,000 will be cut by 2030, while 6,000 will be impacted through the sale of parts of the business or outsourcing. The job losses account for 40% of the company’s current workforce of 27,000 employees.

The decision comes as Germany’s largest steelmaker battles cheaper imports from Asia, high energy costs, and a cooling global economy—factors that have pushed the company into operating losses in four of the last five years. “Urgent measures are required to improve productivity and achieve a competitive cost level,” the company said in a statement, signalling the gravity of its situation.

In addition to job cuts, the company plans to scale back production from 11.5 million tons to a target of 8.7–9 million tons, reflecting what it calls “an adjustment to future market expectations.” This includes closing its processing site in Kreuztal-Eichen and possibly selling its Duisburg plant, Huettenwerke Krupp Mannesmann. If a buyer cannot be found, discussions around closure with other stakeholders are likely.

Earlier this month, Thyssenkrupp further highlighted the difficulties by writing down the value of its steel division by €1 billion, citing a worsening outlook for the sector.

For employees and industry watchers, these developments paint a sobering picture of the struggles within a sector grappling with global pressures.