German steel maker thyssenkrupp Steel and the trade union Industriegewerkschaft Metall have concluded a basic agreement to supplement the Future Pact for Steel collective agreement of March 24, 2020. It includes up to 750 additional job cuts in administration and production-related areas and the assessment of operator models for operating facilities to further increase efficiency in the company. The current collective agreement, which includes job safeguards until 2026, will remain in place. Thyssenkrupp Steel Europe AG board Chairman & thyssenkrupp AG Chief Financial Officer Dr Klaus Keysberg said “The agreement is an important step in the right direction and a milestone on the path to possible independence for the steel business. The agreement will help limit the financial losses caused by the coronavirus pandemic. That is a prerequisite for ensuring a sustainable future for Steel and a key element of a robust business case going forward.” Thyssenkrupp recently approved the main investments under its Strategy 20-30. The first major contracts have already been awarded.With the conversion of the Duisburg casting-rolling line and the construction of further units, the prerequisites for this are now being put in place. In the future, as part of the transformation to climate-neutral steel, it is planned to offer all products in “green” as well. The “Future Pact for Steel” collective agreement concluded in March 2020 was made at the beginning of the pandemic and did not reflect its economic consequences. The basic agreement now adopted provides the basis for closing this gap: In addition to the 3,000 job cuts provided for in the collective agreement, a further reduction of up to 750 jobs is planned in administration and production-related areas. Implementation is to be completed by September 30, 2023. In addition, an assessment based on clear criteria will be carried out to see whether individual operating functions can be managed more efficiently via operator models. Talks on details still to be clarified are to be concluded by mid-April.
German steel maker thyssenkrupp Steel and the trade union Industriegewerkschaft Metall have concluded a basic agreement to supplement the Future Pact for Steel collective agreement of March 24, 2020. It includes up to 750 additional job cuts in administration and production-related areas and the assessment of operator models for operating facilities to further increase efficiency in the company. The current collective agreement, which includes job safeguards until 2026, will remain in place. Thyssenkrupp Steel Europe AG board Chairman & thyssenkrupp AG Chief Financial Officer Dr Klaus Keysberg said “The agreement is an important step in the right direction and a milestone on the path to possible independence for the steel business. The agreement will help limit the financial losses caused by the coronavirus pandemic. That is a prerequisite for ensuring a sustainable future for Steel and a key element of a robust business case going forward.” Thyssenkrupp recently approved the main investments under its Strategy 20-30. The first major contracts have already been awarded.With the conversion of the Duisburg casting-rolling line and the construction of further units, the prerequisites for this are now being put in place. In the future, as part of the transformation to climate-neutral steel, it is planned to offer all products in “green” as well. The “Future Pact for Steel” collective agreement concluded in March 2020 was made at the beginning of the pandemic and did not reflect its economic consequences. The basic agreement now adopted provides the basis for closing this gap: In addition to the 3,000 job cuts provided for in the collective agreement, a further reduction of up to 750 jobs is planned in administration and production-related areas. Implementation is to be completed by September 30, 2023. In addition, an assessment based on clear criteria will be carried out to see whether individual operating functions can be managed more efficiently via operator models. Talks on details still to be clarified are to be concluded by mid-April.
