Thyssenkrupp Steel, Labor Union Reach Agreement on Job Cuts

Thyssenkrupp Steel Europe AG and IG Metall reached a restructuring agreement that will allow planned job cuts to proceed without forced layoffs through 2030, according to an emailed statement from the metalworkers’ union on Saturday.

The deal secures long-term investments, limits outsourcing and gives labor representatives a say in efficiency measures, marking a key step in the company’s turnaround effort, the IG Metall union said.