US EditionThyssenkrupp Steel, Workers Agree on Site Closures, Less Working Hours in Revamp
21 Articles
21 Articles
Thyssenkrupp Steel, Labor Union Reach Agreement on Job Cuts
Thyssenkrupp Steel Europe AG and IG Metall reached a restructuring agreement that will allow planned job cuts to proceed without forced layoffs through 2030, according to an emailed statement from the metalworkers’ union on Saturday.
With a radical restructuring plan Thyssenkrupp Steel is preparing for the future: job cuts, salary cuts and savings are planned, while the federal government intervenes in the submarine division.
At Thyssenkrupp's steel subsidiary, the management and trade union IG Metall agreed on a austerity course.
What about Germany's largest steel company? For three days, managers and trade unionists have struggled for a common denominator. Now there is a compromise.
IG Metall and the steel company ThyssenKrupp Steel have agreed on a restructuring collective agreement. There will be no redundancies for operational reasons, but a total of 11,000 jobs will be cut.
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