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Thyssenkrupp ready to make workers offer for Tata Steel deal: German media

Thyssenkrupp declined to comment on the report

Reuters  |  Berlin 

A logo of ThyssenKrupp AG is pictured outside the ThyssenKrupp headquarters in Essen. (Photo: Reuters)

A logo of AG is pictured outside the headquarters in Essen. (Photo: Reuters)

has offered workers commitments on jobs and investments to get union backing for its deal with Tata Steel to merge their European steel operations, people close to labour union IG Metall said. Details of the offer are to be discussed at a meeting of management and labour representatives on Tuesday, the sources told Reuters on Sunday.

German industrial group and Tata Steel agreed in September to merge their European steel operations, creating the continent’s second largest steelmaker with revenues of ^15 billion ($17.7 billion). But workers at fiercely oppose the deal, concerned more steel jobs will be lost on top of the 2,000 already announced. IG Metall has demanded 10-year guarantees for jobs, plants and investments and has set a December 22 deadline for an agreement. German weekly Bild am Sonntag had on Sunday cited personnel chief as saying in an internal memo that the industrial group was prepared to make commitments on future investments and job security. “With our proposal, we want to secure jobs at the future joint venture into the next decade,” it had quoted him as saying. Chief Executive Heinrich Hiesinger hopes to reach a final deal with Tata Steel in early 2018 but that depends on whether he can get it passed by ThyssenKrupp’s supervisory board, where labour leaders hold half of the seats. “If the employer’s side wants to move forward now, then that’s a signal to which we will respond,” Knut Giesler, the head of IG Metall in the state of North Rhine-Westphalia said. declined to comment on the matter.

First Published: Mon, December 11 2017. 00:43 IST