Thyssenkrupp's steel division has reached a preliminary agreement with the IG Metall union regarding the company's planned restructuring, aiming to avoid forced layoffs. This development follows Thyssenkrupp's announcement that up to 11,000 jobs could be eliminated or outsourced.
The agreement sets the stage for further negotiations, with a new collective wage agreement targeted for completion by summer 2025. Finalizing this wage deal is considered a key step before Thyssenkrupp can proceed with selling an additional 30% stake in the steel unit to Czech billionaire Daniel Kretinsky, who already owns 20% through his holding company.
This restructuring is part of Thyssenkrupp's broader effort to enhance the competitiveness of its steel division and ensure its future viability in the global market.
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