German steelmaker thyssenkrupp Steel has announced that it has reached an agreement in principle with the domestic industrial union of metalworkers IG Metall regarding the company’s upcoming restructuring. This follows the industrial plan presented by thyssenkrupp at the end of last year aimed at making the company independent and competitive.
The agreement paves the way for further negotiation, with a collective-bargaining agreement expected to be signed by summer this year. It also aims to prevent layoffs.
As stated in the industrial plant, thyssenkrupp’s production capacity will be reduced to 8.7-9 million mt, due to market conditions. The green transformation will continue to be implemented with the construction of a direct reduction plant as well as the construction of an electric arc furnace (EAF)-based plant at Duisburg. Meanwhile, the Eichen plant will not be immediately closed; instead, it will be optimized in the short term. However, a decision on whether to continue operations at the plant will be made by the end of the 2027-28 financial year at the latest. Also, the possibility of bringing forward the already decided closure for the Bochum plant will be examined.
