Thyssenkrupp’s steel division & IG Metall union reach restructuring agreement
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Update time : 2025-05-12 16:44:46
Thyssenkrupp's steel division and the IG Metall union have agreed in principle on a restructuring plan aimed at restoring the company's competitiveness and making it fit for the future. This agreement, based on a late 2024 industrial concept, seeks to avoid layoffs for operational reasons.
The immediate closure of the Kreuztal-Eichen plant is off the table for now, with a location optimization concept planned in the short term. A final decision on the plant's future is expected by 2027/2028.
A key obstacle is wage negotiations, which must be resolved before the sale of an additional 30% stake in the steel business to investor Czech billionaire businessman Daniel Kretinsky can proceed. He currently holds a 20% share.
