Thyssenkrupp's Steel Division Proposes Social Scheme, Remains Committed to Workforce Reductions - Thyssenkrupp Steel Sector Outlines Social Plan, Remains Committed to Job Reduction
Hey there! Check this out – things are heating up at ThyssenKrupp's steel division.
- *
You might've heard the big number 11,000. That's right, Dirk Schulte, the chap in charge, told the paper it's the new reality. He points to plants running at full capacity yet not being fully utilized as his justification. Compared to other steel producers, ThyssenKrupp's Steel isn't exactly rolling in cash. "We need to change that," Schulte says. The plan? Slash 5,000 jobs straight away, with another 6,000 outsourced.
So, what's the main focus of this restructuring? Getting people into new jobs, according to Schulte. He'll be meeting up with the IG Metall union soon to hash things out.
A basic agreement was reached back in early May between the union and the company, following a bit of a spat. The goal now? Reach a collective bargaining agreement that secured jobs, locations, and investments for the green transformation – all while avoiding dismissals due to operational reasons.
ThyssenKrupp's steel division has been feeling the heat for quite some time now, and the conglomerate wants to sell the steel subsidiary. The EP Corporate Group (EPCG), led by Czech businessman Daniel Kretinsky, has already scooped up a 20% stake in Thyssenkrupp Steel, with another 30% on the horizon.
Now, onto some extra tidbits:
- Business Segments Separation: Thyssenkrupp is planning to divvy up its business segments and invite third-party investors to take part. This includes transforming thyssenkrupp Steel Europe into a 50-50 joint venture with EPCG[2][3].
- Job Impact: This restructuring could jeopardize up to 20,000 jobs across the company, with 11,000 jobs at risk in the steel division and around 1,800 in the automotive unit[4].
- Union Involvement: The IG Metall union and the company's works council are involved in negotiations, aiming for a sensible strategic realignment that provides long-term job security for affected businesses[1]. No mentions of Dirk Schulte in these chats.
So there you have it! ThyssenKrupp is shakin' things up, and it's keeping jobs and investments for the green transformation almost as important as the job cuts. Keep an eye on this space for more updates!
- ThyssenKrupp
- Steel Division
- Restructuring
- Dirk Schulte
- Job Cuts
- Job Reductions
- WAZ
- IG Metall Union
- EP Corporate Group
- Automative Unit
In light of the ongoing restructuring at ThyssenKrupp's Steel Division, a significant focus is being placed on providing vocational training for affected employees to help them transition into new roles. Meanwhile, the company's financial situation is being addressed, with the intention to increase revenue and become more competitive. This restructuring is being facilitated through negotiations between ThyssenKrupp and the IG Metall Union, with the aim of securing job stability and long-term prosperity for the community, while also boosting investments in the green transformation.
