Thyssenkrupp workers warn against confrontational management approach
Reuters
Published Dec 08, 2023 06:39AM ET
DUESSELDORF (Reuters) - Thyssenkrupp (ETR:TKAG) must not divest its steel and marine units against the will of workers, the group's labour leaders said on Friday, criticising the conglomerate's top leadership for a new confrontational approach to decisions.
The comments, made in a handout by the IG Metall union to staff, come a week after the group's management expanded the board by two seats against despite labour opposition, which unions called a break with tradition.
Workers have traditionally commanded great clout at Thyssenkrupp, and hold half of the 20 seats on the group's supervisory board, but Chairman Siegfried Russwurm last week used his vote, which counts twice in case of a tie, to push the change through.
Unions said this was a first at the company, which under current Miguel Lopez seems to be taking a less diplomatic approach to its relationship with workers.
"Lopez is trying to push through his agenda ruthlessly - even against IG Metall," said Juergen Kerner, deputy head of IG Metall and deputy chairman of Thyssenkrupp's supervisory board.
Thyssenkrupp is currently in discussions to divest both its steel and marine divisions, steps which should not be decided with Russwurm's decisive vote, said Tekin Nasikkol, head of Thyssenkrupp's works council and a member of the group's supervisory board.
"I warn against further attacking the tried and tested social partnership," he said in the leaflet seen by Reuters and dated Dec. 8.
Thyssenkrupp declined to comments and referred to comments by Lopez and Russwurm last week, when the board expansion was disclosed.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.