Thyssenkrupp jobs restructuring may potentially affect 20,000 employees. Redesign plan in motion.
Thyssenkrupp's Workforce Faces Potential Job Losses Amid Restructuring Plans
Germany's industrial conglomerate, Thyssenkrupp, appears poised for a significant shift in its business structure, according to restructuring plans proposed by CEO Miguel Lopez. According to IG Metall, one of every five jobs in the company could be in jeopardy, affecting more than 20,000 employees.
The union's second chairman, Jürgen Kerner, who is also the vice-chairman of Thyssenkrupp's supervisory board, made the warning to Süddeutsche Zeitung. Kerner is critical of Lopez's plans, which prioritize profit maximization and shareholder interests without adequate consideration for employees.
Lopez aims to make each division of Thyssenkrupp standalone, either through sale, stock exchange listing, or bringing in strategic partners during the coming years. Despite the union's willingness to engage in discussions, they demand more transparency from Lopez concerning the transformative plans.
Concerns have been raised regarding the involvement of Czech billionaire Daniel Kretinsky in the steel division. Kretinsky's lack of transparency about his plans and his insistence on job cuts in exchange for further stake acquisition have been instrumental in the union's criticism.
The transformation Thyssenkrupp is pursuing will see the group morph into a holding company, with investments in various sectors such as steel, automotive components, green technologies, submarines, and warships. While this restructuring aims to boost entrepreneurial flexibility, strengthen investment plans, and enhance earnings responsibility, employee welfare remains a concern as job cuts loom.
- The community is advocating for a more inclusive policy during Thyssenkrupp's restructuring, highlighting the importance of vocational training to prepare workers for potential new roles in different sectors.
- As part of Thyssenkrupp's restructuring, the finance department and key business divisions are examining the potential impact of the changes on industry partnerships and the overall financial landscape.
- Aware of the political implications, industry experts and general-news outlets are closely monitoring Thyssenkrupp's restructuring plans, particularly focusing on their effect on the German economy and future job market.
