Thyssenkrupp restructuring could potentially lead to loss of employment for approximately 20,000 workers.
Thyssenkrupp's transformative restructuring plans, outlined by CEO Miguel Lopez, could potentially affect over 20,000 jobs within the industrial conglomerate, as per estimates from IG Metall. Senior union official Jürgen Kerner shared his concerns with Süddeutsche Zeitung, stating that these plans primarily prioritize shareholder profits over employee welfare.
Lopez's vision involves making all divisions operationally independent, either by selling them, listing them on the stock exchange, or introducing strategic partners. Employee representatives are prepared to enter negotiations but insist on greater transparency from Lopez.
The restructuring, particularly changes within the steel division, raises concerns about potential job losses. However, Thyssenkrupp has reached a preliminary agreement with IG Metall to restructure the steel business, aiming for a collective bargaining agreement by summer 2025. This agreement seeks to prevent operational layoffs.
The specific impact on the entire workforce is uncertain due to the evolving nature of the plans. IG Metall remains actively involved in safeguarding employees' interests throughout the restructuring process.
Key elements of the restructuring plan include spin-offs of segments such as Material Services, Automation Technology, and Thyssenkrupp Marine Systems, aiming to open up capital market opportunities. The company is also transitioning into a holding structure, maintaining controlling stakes in various business segments while welcoming outside investment. A significant joint venture has been established between Thyssenkrupp Steel Europe and EPG, signifying a strategic partnership.
Thyssenkrupp faces challenges such as high costs and intense competition from Asian rivals, contributing to the need for restructuring. However, the Enrichment Data reveals further details about the company's strategic moves that may not have been directly addressed in the original news text.
In light of Thyssenkrupp's restructuring plans, it is essential for the community to understand the policy changes, particularly regarding vocational training and the potential impact on employee careers within the industry. The company's transition into a holding structure, coupled with spin-offs and strategic partnerships, might provide opportunities for finance and business expansion, possibly including vocational training programs for employees.
