'Time is running out' for Europe's steel workers as sector calls for protective measures [Yahoo! Finance]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Yahoo! Finance
“Europeans have to do something. They have to find strong answers against these overcapacities because if they don't we will lose all our jobs and all our confidence,” Manuel Bloemers, from the powerful German union IG Metall, told Euronews. "In Germany, the steel industry is heavily impacted from these imports. Thyssenkrupp has a lot of layoffs planned," he added. European Commission Vice-President Stéphane Séjourné convened an emergency summit in Brussels with both steel industry leaders and unions to explore urgent solutions. The European steel industry currently supports around 2.5 million direct and indirect jobs across the EU, with Germany, Italy and France being the main producers in 2024, according to data by EUROFER, a lobby that represents Europe's leading steel producers. Thyssenkrupp Steel alone has announced plans to cut up to 11,000 jobs — around 40% of its German workforce — by 2030. Across Europe, thousands of jobs are also under threat at ArcelorMittal, the w
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