PRESS RELEASE Thyssenkrupp: Employees expect respect and decency during the group’s restructuring

Frankfurt am Main – IG Metall and the works councils of Thyssenkrupp AG are calling for early involvement of employee representatives, prospects for the people, and a future for the business during the upcoming restructuring of the group. Layoffs for operational reasons must be ruled out.

Jürgen Kerner, Second Chairman of IG Metall, said at a future conference of the group’s works councils: “Employees know that a lot has to change if things are to get back on track. They are ready to embrace the path of change. But they need security during this transition and a clear vision for their future. And they expect more respect from management—for their performance, for their elected representatives, and for the company’s unique culture. This respect has been lacking all too often in recent months and years.”

Tekin Nasikkol, Chairman of the Group Works Council, emphasized: “Thyssenkrupp’s problems do not stem from its products or too much employee participation, but from too many failed strategies. The workforce must not be the ones to suffer while value is being extracted from the company elsewhere. When it comes to this, our position is clear: We put people first. We expect the Group’s restructuring to be conducted in a decent and fair manner. The Group bears social responsibility, and we demand that it fulfill this responsibility. To that end, we discussed today and decided how the realignment can be structured. We will now approach company management with this plan. We are aware that the Group will not grant us this voluntarily, but today we’ve filled up the tank—as part of our first Future Conference with representatives from all works council committees—and tomorrow we’ll put the horsepower to the road.”

Following management’s announcement of a radical corporate restructuring, approximately 180 works council members from thyssenkrupp’s 130 German locations gathered at the headquarters in Essen on Monday for a Future Conference. The aim of the conference was to discuss the current challenges facing the business units and the Group and to agree on a joint course of action.

Another backdrop to the meeting was the current framework agreement, which expires at the end of the fiscal year in September. This agreement—which was negotiated under Martina Merz—includes, among other things, a broad exemption from layoffs for operational reasons for the approximately 52,000 employees in Germany. It also governed the handling of divestitures and the role of employee participation bodies within the group. The works councils are calling for the continuation of this proven practice, including in the context of the announced restructuring.