Management and labor leaders at Germany's Thyssenkrupp have agreed on a way...
DUESSELDORF - Management and labor leaders at Germany’s Thyssenkrupp have agreed on a way forward after the industrial conglomerate announced a fresh restructuring drive that could lead to the loss of 6,000 jobs.
CEO Guido Kerkhoff announced the overhaul on Friday, ditching plans to split the business into two and abandoning a European steel merger with India’s Tata Steel. “Now it is up to shareholders to decide whether Thyssenkrupp steers towards a future, or towards conflict,” said Markus Grolms, deputy head of the Thyssenkrupp works council who represents the IG Metall industrial trade union.
“Thyssenkrupp is showing the true meaning of social partnership and co-determination in this day and age,” Chief Minister Armin Laschet said after meeting Kerkhoff and Grolms.
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