Workers protest against partial sale of Thyssenkrupp

As of: May 23, 2024 2:49 p.m

The entry of a Czech entrepreneur is intended to help the steel company Thyssenkrupp out of its misery. While the supervisory board discussed his entry, thousands of employees protested outside. They fear for their jobs.

Several thousand workers protested in Essen against plans to sell Thyssenkrupp’s steel division. The IG Metall union had called for the demonstration in front of the steel company’s headquarters.

The supervisory board is currently discussing the entry of Czech billionaire Daniel Kretinsky into the steel division with his EPCG holding company. He should initially acquire 20 percent of the shares and later another 30 percent. The aim is to form an equal 50/50 joint venture. A joint venture, translated as “joint venture”, is a joint venture that is founded and managed by two or more independent companies.

“Let’s not sell cheaply”

Many Thyssenkrupp employees fear for their jobs because of the plans. IG Metall is demanding guarantees that all locations will be retained and that no redundancies will be made.

Thyssenkrupp boss Miguel Lopez tried to calm things down at the rally. “It won’t work without cuts,” said Lopez, accompanied by loud boos and whistles. There should continue to be no redundancies for operational reasons. The steel industry will require significantly more energy in the future following the conversion to more climate-friendly production. That’s why the EPCG should get involved, says Lopez.

Representatives of IG Metall and the works council have not spoken out against Kretinsky joining the company in principle. Billionaires are welcome – if they bring money with them, stressed Tekin Nasikkol, head of the group’s works council. “We are not turning a blind eye to reality, but we are not going to let ourselves be sold cheaply either.” Without promises to the employees and the locations, there will be no agreement from the employees’ side. Lopez must lay his cards on the table and not try to force the plans through with a crowbar.

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