Struggling German conglomerate Thyssenkrupp , whose shares hit a fresh 16-year l...
), whose shares hit a fresh 16-year low on Monday, put three underperforming businesses under review last week, hoping this will ease pressure on the group’s cash flow.
The new plans come in addition to a planned sale or listing of its elevators division, by far its most profitable business. Their combined 9,300 staff make up 5.7% of Thyssenkrupp’s total workforce. The company is now drawing up restructuring plans. If that should fail the businesses could be sold or shut down.- part of Thyssenkrupp’s Components Technology business division
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