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Germany urges Thyssenkrupp to reach deal with unions over Tata Steel

Over plans to merge the group's European steel operations with those of Indian peer Tata Steel

Reuters  |  Berlin 

Germany urges Thyssenkrupp to reach deal with unions over Tata Steel

Germany's Economy Minister urged management at to seek an agreement with its workers over plans to merge the group's European steel operations with those of Indian peer

A joint venture with is the preferred option of Chief Executive to restructure the group's steel business, despite ongoing resistance from labour representatives, who fear thousands of job cuts.

"Such an important and strategic corporate decision should be made following intensive consultation and in consensus with labour representatives. So far, the labour side is not convinced by the decision," said Economy Minister Brigitte Zypries, a member of the Social Democrats.

"This leads to uncertainty among employees. That is not good for the company and the workers."

Thyssenkrupp's supervisory board will gather on Sept. 24, the day of Germany's general elections, to discuss the plan and the company this week said it was possible a memorandum of understanding could be announced this month.

will stage protests against the plans in the city of Bochum on September 22.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, September 14 2017. 22:27 IST
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