ThyssenKrupp to close 1 Terni EAF, cut 550 jobs in Italy

German steelmaker ThyssenKrupp plans to cut 550 jobs and close one of the two electric arc furnaces (EAF) at its Acciai Speciali Terni (Terni) stainless steel plant in Italy, the company said on Thursday July 17.

The cuts are part of a bigger industrial plan that aims to make savings of €100 million ($135 million) in a bid to return the lossmaking plant to profitability.



Elfi Middelbeek

July 17, 2014

16:43 GMT