Management and labor leaders at Germany's Thyssenkrupp have agreed on a way...
DUESSELDORF - Management and labor leaders at Germany’s Thyssenkrupp have agreed on a way forward after the industrial conglomerate announced a fresh restructuring drive that could lead to the loss of 6,000 jobs.
CEO Guido Kerkhoff announced the overhaul on Friday, ditching plans to split the business into two and abandoning a European steel merger with India’s Tata Steel. “Now it is up to shareholders to decide whether Thyssenkrupp steers towards a future, or towards conflict,” said Markus Grolms, deputy head of the Thyssenkrupp works council who represents the IG Metall industrial trade union.
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