Economic Affairs Minister of North Rhine-Westphalia expresses worry over Thyssenkrupp's situation.
North Rhine-Westphalia Minister of Economics Concerned About Potential Job Cuts at Thyssenkrupp
Amid rumors of drastic restructuring measures at Thyssenkrupp, the state government in Düsseldorf is voicing concerns, particularly regarding potential job cuts. Green Minister of Economics Mona Neubaur has called for clarity from the company and stressed the need for reliability and a clear course of action.
Neubaur expressed her worries about public speculation regarding the dismantling of the company, stating it could be detrimental to constructive solutions. She advocated for the Thyssenkrupp workforce to have a future perspective in a company that focuses on digitalization, climate neutrality, and social responsibility. According to the minister, a reliable plan, open dialogue with employees, and the assurance of no job losses during the restructuring process are essential.
The state government has emphasized the preservation and transformation of industrial value creation as a top priority. With a substantial individual funding for climate-friendly steel production, industrial strength, and secure jobs, Neubaur reiterated the state's commitment to supporting Thyssenkrupp.
In response to media reports suggesting dismantling plans, Thyssenkrupp announced it would present its future direction for the entire company to the supervisory board by the end of the 2024/25 fiscal year. The company aims to make all its business areas independent and welcoming of third-party participation. Components likely to be affected include the spin-off of Thyssenkrupp Marine Systems and the formation of a 50/50 joint venture with Thyssenkrupp Steel Europe and a holding of Czech billionaire Daniel Kretinsky.
Thyssenkrupp's works council and IG Metall have welcomed the prospect of negotiations but have warned against dismantling the company. They have emphasized the importance of regular communication and the exclusion of job cuts due to operational reasons, asserting their commitment to a solid development and a promising future for all business areas at Thyssenkrupp.
ThyssenkruppJob Cuts
In light of the upcoming restructuring at Thyssenkrupp, the Community policy should prioritize vocational training programs to help employees transition to new opportunities within the industry. To ensure financial stability and business continuity, the state government could consider investing in vocational training for Thyssenkrupp employees, especially during the restructuring process.
