PRESS RELEASE No Breakup of Thyssenkrupp

In today’s press release, the Group essentially confirms the planned realignment of the company as suggested in the press coverage over the weekend.

To date, employee representatives have not been adequately involved in the strategic discussions. Accordingly, the information available to us does not reflect the “significantly advanced development” described in the press release.

We therefore now expect the company to rectify this situation and to present the plan to the relevant committees in a timely and fully transparent manner.

Employee representatives do not stand in the way of a sensible strategic realignment, but in this context, they expect the planned changes to be implemented within certain guidelines in order to develop prospects for the affected businesses and secure jobs in the long term.

We reject a one-sided focus on shareholder interests at the expense of the workforce and taxpayers. We will resolutely oppose any breakup of the company.

Tekin Nasikkol, Chairman of the Group Works Council:
“The situation thyssenkrupp finds itself in today is not the fault of the colleagues who do their jobs day in and day out. The current situation is the result of too many failed management strategies in the past. We therefore expect the Executive Board to show greater sensitivity in its dealings with the company’s workforce. We have no sympathy for management conferences abroad while many business units are undergoing severe cost-cutting measures and workforce reductions.”

Jürgen Kerner, Second Chairman of IG Metall and Deputy Chairman of the Supervisory Board of thyssenkrupp AG:
“For years, the employee side has been committed to ensuring sound development and a bright future for all business segments at thyssenkrupp. We have proven often enough that we are willing to break new ground and even step out of our comfort zone to achieve this. But we reject the idea of dismantling the group and gradually taking it public—without a vision for the future that offers prospects for employees and locations across all divisions. We expect clear statements regarding employment and locations. Layoffs for operational reasons must be ruled out.”