FRANKFURT, Germany – German steelmaker Thyssenkrupp said Friday it would cut some 6,000 jobs and restructure its businesses after saying that it expects European antitrust regulators to block plans for a joint venture with India’s Tata Steel.
CEO Guido Kerkhoff said 4,000 of the lost jobs would be in Germany, the dpa news agency reported. He said the rejection of the joint venture was “a hard blow” for the company’s 27,000 steelworkers.
Thyssenkrupp said in a statement that the companies had offered changes to address the European Commission’s concerns but that hadn’t been enough.
Consumer prices rise 0.3% in April
U.S. consumer prices increased 0.3% in April, led by more expensive gasoline, apartment rents and appliances.
The Labor Department said Friday that the consumer price