thyssenkrupp Steel and IG Metall have concluded a deal on the 'Restructuring of the Steel Sector'

According to the statement, the agreement provides clarity and a long-term perspective for both the company and its employees.

Following intense negotiations, the core elements of the industrial restructuring concept and the key points of consensus have been transformed into a binding collective bargaining agreement. The framework for the operational agreements required for the company’s restructuring has been outlined, with the aim of finalizing these arrangements by the end of September.

As part of the process, thyssenkrupp Steel aims to reduce excess capacity, improve efficiency, and achieve a competitive cost structure. Company management describes the move as a critical and long-overdue step toward securing a stable future for thyssenkrupp Steel.