EMCC European Monitoring Centre on Change

ThyssenKrupp Steel

Company/Organisation:
ThyssenKrupp Steel

Geographic Location

Country: Germany

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
24 - Manufacture of basic metals
Number Employed: 18000

Employment Effects

Announcement Date: 05-07-2006
Type of Restructuring: Other
Planned Job Creation: 500

Additional Information

The German steel company Thyssen-Krupp Steel (TKS), the company works council, the German Metalworkers' Union (IG Metall) and the employers' association Gesamtmetall concluded a new collective agreement on working time on 5 July 2006. Following this agreement the standard weekly working time of the company's 18,000 employees will be cut from 35 to 34 hours without pay compensation. In exchange forced redundancies are excluded until 2013 and the company is to create 500 new jobs as a result of the reduced weekly-working time.