TKA.XE Is Putting Together a Program to Allow It to Save About EUR 2 Billion in Costs

foxbusiness.com said that Sueddeutsche Zeitung on Saturday citing company sources reported that ThyssenKrupp AG (TKA.XE) is putting together a program to allow it to save about EUR 2 billion in costs over the next three years, daily

According to the report, extensive job cuts are not part of the plan

At the same time, ThyssenKrupp plans to invest about EUR2 billion in its operations next year, largely in research and development,

Part of the motivation for the savings program is ThyssenKrupp's ongoing effort to find a buyer for its Steel Americas business, the report said, operations that the newspaper estimates could result in a write down of up to EUR3 billion in the fiscal year that ended in September.