Thyssenkrupp plans to cut thousands of jobs | TIME ONLINE

Thyssenkrupp plans to cut thousands of jobs | TIME ONLINE

In the steel business of ThyssenKrupp 3,000 jobs are to be cut. Operational layoffs are to be avoided, the industrial and steel group said. In addition, they had agreed with IG Metall on a collective agreement that ran until the end of 2026. This “provides collateral for in very difficult times
the workers, “said the chairman of the General Works Council of
Thyssenkrupp Steel Europe.

The first step is to cut up to 2,000 jobs in the next three years. Another 1,000 jobs are expected to be cut by 2026. Duisburg is to be strengthened as the most important steel location for Thyssenkrupp. In return, the company plans to close plants at other locations. Among other things, 1,000 jobs will be lost in Bochum by 2026. In Duisburg, Thyssenkrupp plans to give up heavy plate production with around 800 employees.

“We postponed problems for too long and shied away from tough decisions,” said Thyssenkrupp board
 Klaus Keysberg. The job cuts give the company scope so that
Steel can remain competitive in the long term. The result of
Segments should improve significantly and sustainably. Thyssenkrupp is too complex for steel and
have an inadequate cost structure. This is also proven, among other things
the disappointing course of business this financial year.

IG-Metall and the General Works Council welcome agreements

The employee representatives were satisfied with the agreement. The Collective agreement create “security for employees in very difficult times,” said Tekin Nasikkol, Chairman of the General Works Council of Thyssenkrupp Steel Europe. The North Rhine-Westphalia district manager of IG Metall, Knut Giesler, said that the chronically underinvested steel sector “finally gets the money that is needed to meet customer requirements”.

According to the company, the job cuts are the prerequisite for extensive investments in the steel sector. The new strategy provides for an additional investment framework totaling around 800 million euros over six years. In addition, there would be the annual investments of around 570 million euros already included in the planning.

Short-time work in production and administration

The agreement with the union also includes an immediate package for
Corona crisis. Among other things, the increase in short-time allowance is on
 80 percent provided. In addition, a tariff agreed
Special payment can be converted into days off. “We are going to many
Locations will need to go short-time over the next few weeks, “said
Chief Human Resources Officer Oliver Burkhard. That initially affects the
production-related areas, but also the administration.

Thyssenkrupp had in the past fiscal year a loss of 304
Million Euros
made, about five times as much as last year. The
Ruhr group has to renovate its steel area single-handedly,
after the EU Commission prepared the long one last year
Fusion with the European steel division of the Indian competitor Tata
had prohibited.


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