SSAB

The European edition of the Fortune 500, ranking companies by revenue.

Fortune 500 Europe

The first-ever European edition of the Fortune 500, ranking companies by revenue. 

F500 EUROPE 2023 SSAB 7005_PressurePipes_OulainenTubeMill

SSAB ranks 277 with $12.7 billion in revenue (up 13.9%). The Sweden-headquartered metals company has 15,096 employees and made a loss of $1.1 billion (down 163%).

As we face unprecedented collective challenges, cooperation has become a business superpower.

52.CTW20.SSAB

The steelmaker has joined miner LKAB and power company Vattenfall in HYBRIT—an ambitious Swedish venture to make fossil-fuel-free steel. Rather than burning coal in the CO2-intensive iron production process, HYBRIT uses hydrogen and electricity from emissions-free sources. <span data-ogsc="black">The product won’t be commercially available until 2026, but HYBRIT’s pilot plant started operations in August.</span>

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Get insights into SSAB including business profile, stock information, news, and rankings from Fortune.

SSAB (SSAAY): Company Profile, Stock Price, News, Rankings

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SSAB | Fortune

SSAB (SSAAY): Company Profile, Stock Price, News, Rankings | Fortune

Generational shifts are actively reshaping the business landscape.

In today’s episode of Fortune Daily, Business Editor Nick Lichtenberg and Reporter Eva Roytburg join us to break down Gen Z’s massive impact on the workplace. We also dive into the recent leadership changes at Google DeepMind and the demotion of Demis Hassabis. Plus, Fortune News Editor Cat Giono joins the show to discuss the "stay-at-home boyfriend" trend and the surprising data backing it up.


Is Gen Z rewiring how we work?

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Could there be a bifurcation in the future of Genen Z and the industries they choose to be in? I think so. They think college is not worth it necessarily. They think I'm a smart person. I can start earning income right now. I can be out in the field as an HVAC repairman, but also a social media influencer at the same time. Hello, you're watching Fortune Daily, and I'm Ellie Austin. So Google DeepMind helped create the modern AI race. Now it's facing a leadership shake-up that shows how fast that race can turn. DeepMind co-founder Demis Hassabis is giving up the CEO title and moving to a chairman role, while Chief Technology Officer Core Kabukolu takes over day to day operations and now reports directly to Alphabet CEO Sundar Pichai. Fortune's reporting shows why this has happened. Number 1, Gemini's next flagship model missed 3 deadlines, but also key researchers left for OpenAI and Anthropic, and employees described burnout, low morale, and a leader who was seldom seen in the London office. So what's the bigger takeaway here for leaders and for their companies? Well, in a fast moving market, a great original idea isn't enough. Because you have to ship, you have to keep your best people, and surprise surprise, you have to be present when the organization is under pressure. DeepMind still has enormous advantages. It has Google's chips, the cloud, cash, and billions of users. But this reorg is a reminder that innovation can't be managed from a distance. Because managers will ultimately be judged on their ability to, yes, manage. Because even in the AI age, if talent feels burned out and your people don't see you in the room, an AI pioneer can end up playing catch up. Coming up, generational divides are reshaping work and reshaping leisure, and we're talking to business editor Nick Lichtenberg and Fortune reporter Eva Royberg about how Gen Z's impact is changing the business landscape. Nick, hello hello. So you cover Gen Z as one of your beats. Interestingly, you also have a lot of Gen Z reporters reporting into you. Um, when you started covering this beat, what was the conventional wisdom about the generation, and remind us who is a Gen Z. Uh, so when I started covering this beat, there was a point in my career where I looked around and realized I was the oldest person in the room, and I had been used to, you know. 1020 years of uh journalism experience like looking up to other people in the newsroom like where were you when 1987 crash happened and they were looking at me like where was I when the 2008 crash crash happened but when I uh started covering this really there was no Gen Z coverage there was all this millennial coverage about avocado toast and like buying a $5 Starbucks was irresponsible and they weren't weren't saving enough and then almost overnight. Gen Z, I think the oldest Gen Zer is now 29, and so 56 years ago they were the 23-year-olds, 24-year-olds in the office, but it became they were the, the sequel to the millennial story, and I think that's what's fascinating is that they subvert a lot of the millennial stories that we've been hearing for the last 10 or 10 or 12 years. In what way do they subvert them? I think they intentionally subvert them. I mean, in my experience managing Gen Z is that they like to, uh, roast me, I think is the term, so there was lots of just mockery of every little thing about me from like the way I would sit at my desk to the things I liked reading and covering and. You know, movies I would go see, music choices. I mean, you do sit with your feet up at your desk a lot, so that's fair. I've got long legs. So, OK, so they have, they kind of like to debunk authority a bit anecdotally we've seen in our office. Um, what do the stats show about their role in the workforce and how all the data about how they think about employment? I think this has been an evolving story and a lot of it is around that kind of two year. Uh, snap, so to speak, uh, like a, like in the Marvel Studios there was a snap and everything kind of vanished and then came back together years later and we lost these two years to COVID and so many of us were working remotely and Gen Z, depending on where they sit within the generation they were in high school or college or starting their first job and what I experienced was a lot of hunger for mentorship relations in person. Uh, in-person kind of experience working alongside me and learning from me and then teaching me things too. I've learned so many things from all the Gen Zers I've managed through the years and that has been a change where. Remote work was considered kind of the future at one point and there's been all these debates about the remote work war as we call them sometimes and CEOs trying to bring workers back and really increasingly the last several years, Gen Z wants to be in the office, which is kind of counter to what the public narrative has been at points, and I have a lot of empathy for them that they emerged into the workforce, many of Gen Z at the time of the pandemic. Alongside their trajectory through the workforce, we're also reading a lot about how Gen Z are approaching finances and leisure time more generally. How are the two interlinked and what does this mean for the future of corporate America? I think they want what everyone wants. They want to succeed and they want that pokey kind of American dream thing and. So I mean it's a rude awakening when you're managing someone who was born after 9/11 or who was in grade school when the 2008 crash happened. And they've, they've grown up in this world that's been just very uncertain and chaotic from as long as they can remember. And starter homes have gone up. This stat is so striking to me, 87% in price since 2019. So when you say they want to succeed, is their definition of success different to the one their parents held? Yeah, I think that they're redefining that, and that's what's so interesting about the story, like the millennial story. Is that success was still kind of possible on the old terms if you hustled a lot and then burned yourself out trying to attain it and Gen Z seems to have decided very early on maybe I'm never gonna have these things that were traditional markers of success, so I have to redefine it on my own terms and a lot of that is kind of crap. A lot of those stories are kind of crap anyways and so what do you mean by that? I think when society has told them. Like it's too affordable to achieve this thing that everyone else should achieve by this age. They have, they seem to have concluded, well, we don't want it anyways. We're going to define for ourselves what success looks like. And does that mean leaving corporate jobs, because one thing Gen Z are wrongly or rightly, who knows, accused of is being disloyal to employers in the way that previous generations may have stayed in a job forever. So how does that translate into. Them as employees, there's a lot of evidence, and we've just reported on this recently with Bank of America credit card data. Um, there is no K-shaped spending divide within Gen Z, which means K-shaped means, uh, uh, just a split between wealthy and lower income. And wealthy and lower income Gen Zs are both spending as much as they, um, at equal amounts and their spending saving ratio is exactly the same and the evidence seems to indicate that they're all turning to side hustles and non-traditional ways of bringing in income to keep their spending at the level that they want it to be at and so. Yeah, it's, it's an unconventional and untraditional response to a pretty unconventional and untraditional time they're living in. They're living in. The New York Times recently reported on the spike of Gen Z going into trade schools, and yet at the same time we're seeing the generation adopt AI relatively steadily. So could there be a bifurcation in the future of Gen Z and the industries they choose to be in? I think so. I've talked to several of these entrepreneurs and they're. Really interesting because they. They think college is not worth it necessarily, they think. I'm a smart person. I can start earning income right now, but also I can be out in the field as an HVAC repairman. I'm thinking of one person I profiled last year, but also a social media influencer at the same time, so they're on site and they're taking videos of themselves and selfies and shots of their work and they're, they're telegenic and photogenic. And they are generating an income stream off their YouTube channel at the same time that they're out in the field making a living off of a very old school blue collar trade and so I think that kind of sums up the attitude and a lot of them have grown up thinking I'm old enough where a rock star was a cool thing to be and I think YouTube influencer content creator has replaced rock stardom and there's. A commercial aspect to it which was not really part of getting on stage and playing a guitar. Well, what feedback do you get from Gen Z to your stories because you obviously are not a Gen Z. Um, Shocker, you sit on the cusp, I believe, of G Gen X and millennials. I'm a millennial, so what's the feedback been like? Well, I actually asked for it at one point. I said I wish I got more Gen Z feedback like that. I write about you guys. I know a lot of you guys. I'm sympathetic. Maybe it doesn't always seem like I'm sympathetic in my reporting, but I really am and. One email that really stuck with me was about a lot of anger. Gen Z's angry about the way things are and they feel a little powerless and so a lot of their behaviors are kind of barely covering up all of that anger. Angry about the economy, angry about global warming is a big one. I mean, Greta Thunberg is a very famous sort of Gen Z avatar and. She's just really angry about the world she's inherited and she's trying to do something about it and politically as well. Um, what headlines do you expect to be writing about Gen Z in 5 or 10 years when they transition into management roles? Well, millennials are the majority of managers I reported on last year and uh that was Glassdoor data, I believe, and. They've become a sort of cliche as they've become managers. I think that the, the toxic frenemy is the, uh, the millennial identity as a manager where you, uh, are very friendly with all of your reports until all of a sudden you're not and you don't, you're unclear about your expectations and you have no work-life balance yourself and you're stressing out your whole team while, yeah, you're burning yourself out as millennials are famous for doing and I just think Gen Z is gonna reject all of that. Um, they've been very refreshingly casual, I would say in a lot of their behaviors, but there was great reporting in The New York Times this weekend and in fashion magazines about the return of loafers to the, the Gen Z identity. I mean, I wear sneakers, which makes me a boomer basically, um, so I think that there's gonna be an inversion of a lot of the things that millennials have added to the workplace. Nick, where can people find more of your reporting? Fortune.com. Thank you for joining us. I'll let you get back to your Gen Z team. OK, thank you. So Eva, I didn't feel that we could have this whole conversation about Gen Z without bringing a Gen Z into the room to answer for everything that Nick and I were talking about. You were sitting here when we were chatting. Give me your unvarnished response to everything you heard. I think, I think Gen Z shouldn't be pathologized as every other generation is. Like people called millennials super self-obsessed before boomers were like. The me generation, I think Gen Z, it's easy to cast us as like downtrodden, you know, financial crisis and then pandemic, but I think actually the data suggests that we take a lot of economic power into our own hands. Like during 2021 to 2023, the famous David Autor paper showed that we had increased wage gains and in fact we shifted sort of the power of a tight labor supply to us. Institutions sort of failed us like the. Colleges got way too expensive. The return on the degree is not worth it. Often employees, we find employers are quick to lay off. And so we're now we're solo entrepreneurs. Now we job hop. Now we have all of our side gigs or we're like betting on prediction markets. Like that is very much a generation that is taking control in of itself as opposed to just being subject to the whims of the economy. So what headlines would you like to see someone like Nick writing about Gen Z that he isn't yet? I think I would like to see more about the Gen Z soul entrepreneur. He's also your boss. Yes, well, yeah, well, Gen Z, Gen Z is famously casual, doesn't care about, about these relations, but, but I do care. He does good stories about like the, you know, the 24-year-old woman HVAC professional that like gets all of her clients through TikTok. Like stories like that are excellent. Examples of how we take into, we take conditions into our own hands. We are the head of the AI boom. We were the head of the crypto boom. We take matters into our hands 1100%. So do not me Gen Z. Eva, where can people find you? You could find me on Instagram, E V A R O I T, or read my articles on Fortune.com. Thank you, Eva. Thank you. Next up, Under the Radar with Kat Goro. So the stay at home boyfriend is someone who has either intentionally left the workforce or someone who has either never tried or really has felt dejected that they wouldn't even be able to get into it in the first place. So, when I wrote that headline, I kind of knew exactly the reaction I was hoping to get. I remember saying, OK, stay at home boyfriend because it's not a joke so much so as a Federal Reserve data point. Women On the other hand, happen to have more, let's say, humane, more social jobs. So a large majority of nurses are women, a large majority of teachers are women, a large majority of really like healthcare workers and of, you know, home health aides are women. This is a non-temporary adjustment. Only 3 times it's happened in history. Once during the Great Recession and right before COVID. Since 1990, we've had 7 million jobs where men outnumbered women, and now that's gone to basically zero and has almost, well, actually has, has over surpassed that. We are starting to see men try to go into usually women dominated fields. So again, teaching or nursing, we might start seeing That happen more often, but we also start seeing the opposite too of women going for male dominated fields. So they're going further than the nurse's degree. They're getting their doctorates and becoming surgeons, for example. So it is a weird mix. We don't know what's going to happen in the future, but we do know for the next 15 years, according to Laura Ulrich, the economist at Indeed, that it's not going to be a temporary thing like it happened the last two times. It's going to be permanent. Women will outnumber men. That's Fortune daily. I'm Ellie Austin, see you next time.

The White House finalized a framework for how it will test new AI models for cybersecurity risks — but will keep details of the framework private. Also, Google Deepmind CEO Demis Hassabis shifts role amidst a leadership shake-up; and AI companies are scanning and destroying books through a process known as “destructive scanning.” Fortune AI Reporter Bea Nolan and Senior AI Reporter Emily Forlini break down the biggest AI news of the week.

Demis Hassabis Takes on New Roles at Google Deepmind Amid C-Suite Shake-up | Fortune AI Weekly

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Google DeepMind founder and CEO Sir Demis Hassabis is a master chess player, a recipient of the Nobel Prize in Chemistry, and - as of 2024 - a Knight. Today, as a leader within Google’s booming AI team, Hassabis wants to make AI the “engine” driving the entire company.

In this episode of Fortune 500: Titans and Disruptors of Industry, Fortune’s Editor-in-Chief Alyson Shontell sits down with Hassabis at the World Economic Forum in Davos to talk about how he and his companies are using AI to cure cancer, build universal agents, and move the world towards a future of “radical abundance.”

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