The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24 - Manufacture of basic metals
500 jobs Number of planned job creations
Announcement Date
5 July 2006
Employment effect (start)
Foreseen end date
Description
The German steel company Thyssen-Krupp Steel (TKS), the company works council, the German Metalworkers' Union (IG Metall) and the employers' association Gesamtmetall concluded a new collective agreement on working time on 5 July 2006. Following this agreement the standard weekly working time of the company's 18,000 employees will be cut from 35 to 34 hours without pay compensation. In exchange forced redundancies are excluded until 2013 and the company is to create 500 new jobs as a result of the reduced weekly-working time.
Sources
6 July 2006: Handelsblatt
Citation
Eurofound (2006), ThyssenKrupp Steel, Other in Germany, factsheet number 63756, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63756.
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