Swiss Steel announces further job cuts in Germany

The Lucerne-based steelmaker is planning another restructuring round that will mainly hit its German plants (Deutsche Edelstahlwerke, including Witten, Krefeld, Siegen and Hagen) and lead to further job cuts there, CEO Frank Koch said, without giving a number or naming the sites affected. The workforce has already been halved from around 13,000 to about 6,500; the group booked a loss of €311m in 2025 and is preparing a further balance-sheet restructuring, aiming to return to operating profit from 2028 (interview in SonntagsZeitung; awp/sda via finanzen.ch, 4 Oct 2026; second source: 20 Minuten, 4 Oct 2026).