ThyssenKrupp workers protest against merger plan with Tata Steel
Germany’s industrial union of metalworkers IG Metall has announced that on Wednesday, May 3, the workers of German steelmaker ThyssenKrupp protested against the company’s plans to merge its European business with India-headquartered steel giant Tata Steel and demanded clarity about the future of their jobs.
IG Metall stated that the merger plan puts 15 percent of the current 27,000 jobs at the company’s Steel Europe division at risk. According to the union, Thyssenkrupp also plans to reduce costs by €500 million in the next three years by cutting workforce and closing facilities.
IG Metall’s district manager Knut Giesler stated that the workers have already made their contribution to the company by increasing working hours, adding that Tata Steel is not a reliable partner but a highly indebted company and so a merger only puts more jobs at risk.
ThyssenKrupp and Tata steel have been in discussions since last year to explore options for a strategic collaboration.
*This was published on SteelOrbis website on May 4, 2017.