Thyssenkrupp restructuring could potentially jeopardize 20,000 jobs.
Thyssenkrupp's Restructuring Plans could jeopardize jobs for 20,000 employees, suggests IG Metall. According to Jürgen Kerner, deputy chairman of IG Metall and vice-chairman of Thyssenkrupp's supervisory board, his comments to the Süddeutsche Zeitung indicate that the industrial conglomerate's restructuring plans, spearheaded by CEO Miguel Lopez, may lead to significant job losses.
Lopez's plans involve making all divisions independent, selling them, taking them public, or partnering with other entities in the coming years, a move that is intended to maximize profits and shareholder interests, as per Kerner's criticism. However, he emphasizes that employee interests have been overlooked in this process.
Currently, Thyssenkrupp seems to be engaged in some job cuts, with up to 11,000 positions at risk in the steel division, TKSE. Moreover, around 1,800 positions are expected to be eliminated in the automotive division. The union, IG Metall, is concerned that with Lopez's plans, over 20,000 employees could find themselves without a job.
IG Metall is prepared to discuss matters further with Thyssenkrupp, but they seek more transparency from Lopez in these negotiations. The union aims to reach a collective bargaining agreement by summer 2025.
Sources: ntv.de, rts
[1] Job cuts in steel division - Thyssenkrupp TKSE[2] Job cuts in automotive division - Thyssenkrupp[3] Collective bargaining agreement by summer 2025 - IG Metall[4] IG Metall estimates over 20,000 jobs at risk[5] More than 20,000 employees could be affected by Thyssenkrupp's restructuring plans as per IG Metall.
The restructuring plans of Thyssenkrupp, headed by CEO Miguel Lopez, could potentially impact over 20,000 employees, as estimated by IG Metall. This union is looking to discuss these matters further with Thyssenkrupp but seeks more transparency from Lopez during the negotiations. They aim to reach a collective bargaining agreement by summer 2025, considering the potential vocational training and employment opportunities for affected workers within the community policy and finance aspects of various industries and businesses.
