Thyssenkrupp to lose 3,000 jobs in restructuring over next six years

German steelmaker Thyssenkrupp has announced that it will go ahead with a restructuring plan that will eliminate 3,000 jobs after reaching an agreement with the workers’ trade union, it said on Wednesday March 25.

The announcement included a “coronavirus package” with reduced hours for staff, agreed with workers’ representative IG Metall.
Because of a sharp decline in demand, the company will make production adjustments in the steel business at short notice, with short-time working arrangements to be introduced immediately at various locations in its Steel Europe division. These arrangements will be reviewed on a monthly basis.
The company also said that a collectively agreed special payment will be converted into additional days off.

It announced its new strategy in December 2019, and the framework conditions for the implementation of the “20-30 steel strategy” were now in place. The agreement will apply to all of Thyssenkrupp’s steel operations units in Germany. The collective agreement will come into force on April...


Carrie Bone

March 25, 2020

20:30 GMT