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GER - ThyssenKrupp to implement a re organization by October

Reuters reported that ThyssenKrupp will implement a re organization by October 2009 in an effort to make it leaner and more responsive. Mr Ekkehard Schulz CEO of ThyssenKrupp said that a more centralized structure will help ThyssenKrupp respond more quickly to the market. He added that he could not rule out forced layoffs and plant closure but declined to elaborate. He said that there would be no forced layoffs as a result of the revamp. It also said it was not planning to sell it stainless steel division.

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