Latest news with #IGMetall
Yahoo
2 days ago
- Automotive
- Yahoo
Tesla says no jobs at risk at German plant despite slump in sales
Tesla said it does not expect job cuts or a reduction in employees' working hours at the factory near Berlin, despite a sharp decline in sales. "After a successful ramp-up in production at the beginning of the year, we are now back to pre-model-change levels," a company spokeswoman said on Thursday. According to Tesla, the factory in Grünheide is currently producing 5,000 electric vehicles per week, which is equivalent to around 250,000 cars per year. The facility, Tesla's only car plant in Europe, opened in 2022 and employs roughly 11,000 people. It manufactures the Model Y, which has recently undergone a redesign. In the first half of 2025, Tesla saw new registrations in Germany drop by about 58% compared to the same period last year, even as the overall electric vehicle market continued to grow. Tesla also reported a significant drop in global car deliveries in the second quarter, falling 13.5% year-on-year to 384,122 vehicles. The plunge came as Tesla boss Elon Musk faces a backlash over his right-wing political views. According to the company, the Grünheide plant supplies more than 30 markets across Europe and Asia, providing a degree of resilience against regional market fluctuations. "Deliveries to individual markets are dynamic and are regularly adjusted based on factors such as supply chains and customs regulations," the spokeswoman added. Last week, the IG Metall trade union described increasing uncertainty among the workforce, as Tesla is producing at record levels in Grünheide, but the company is facing an image crisis and a slump in sales. The US car manufacturer rejected this claim. "We are not aware of any uncertainty among our workforce and see no reason for it. Since the beginning, we have offered our employees a secure, permanent and highly attractive job," the spokeswoman said. Tesla initially aimed to produce 500,000 cars per year in Grünheide, with plans to double that figure to 1 million per year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Thyssenkrupp Steel agrees on major cost-cutting plan with union
The management of Thyssenkrupp Steel Europe and labour union IG Metall have agreed on a tough cost-cutting programme at the beleaguered German steelmaker, the sides said on Saturday. After three days of negotiations, representatives of the workforce and the executive board reached a collective agreement on the restructuring that runs until 2030, with the goal of returning the company to profitability. Under the agreement, vacation bonuses will be scrapped and Christmas bonuses reduced. In addition, weekly working hours will be cut to 32.5 hours — down from the current level of up to 34 hours. As a result, many employees can expect lower earnings in the future. Germany's largest steel producer is facing huge challenges, from weak domestic economic conditions to high energy prices and cheap imports from Asia. To turn things around, the company plans to significantly reduce its production capacity and workforce. Thyssenkrupp Steel aims to cut thousands of jobs, reducing its headcount from 26,300 to 16,000. One site in the western city of Bochum is set to close in 2028. Plans to shut a plant in nearby Kreuztal-Eichen have been shelved for now. Marie Jaroni, a member of Thyssenkrupp Steel's executive board, described the agreement as critical to the company's long-term prospects. "We are reducing excess capacity, improving efficiency, and can thus achieve a competitive cost structure," she said. Knut Giesler, regional head of IG Metall, called the deal a viable compromise that contains painful elements for both sides. "However, forced redundancies are off the table, and there are also guarantees for sites and investments in equipment — these are positive signals," he said. He added that the company's original "poison list" of drastic cuts had been significantly pared back. The collective agreement must still be approved by IG Metall members at the company. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
4 days ago
- Business
- Bloomberg
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.
Time of India
4 days ago
- Business
- Time of India
Thyssenkrupp steel, workers agree on site closures, less working hours in revamp, ET Infra
Advt Thyssenkrupp and trade union IG Metall on Saturday said they had agreed on reduced working hours, lower bonus payments and site closures as part of a push to revamp Germany's largest accord with steel workers marks a major step in Thyssenkrupp's restructuring, under which the former German industrial icon is planning to turn into a holding company, and comes after renewed tension between management and labour of the new collective bargaining agreement , which runs until September 30, 2030, must be approved by IG Metall members at Thyssenkrupp's steel unit TKSE and is pending an agreement on the division's future financing, they agreement follows Thyssenkrupp's announcement that up to 11,000 jobs at the steel unit, TKSE, had to be cut or outsourced and that annual production capacity would be lowered to 8.7-9.0 million tons from 11.5 million tons."We went to the pain threshold and only made concessions where it was really necessary in order to secure jobs and locations," said Tekin Nasikkol, head of Thyssenkrupp's works council and member of the group's supervisory board."We have now created the conditions for the company to emerge from the difficult situation out of its own strength," Nasikkol said in a had wanted to reach a deal regarding the restructuring by summer and both sides aim to finalise the current agreement by the end of a wage deal has been seen as a key hurdle to be cleared before Thyssenkrupp can sell an additional 30 per cent stake in TKSE to Czech billionaire Daniel Kretinsky , as planned. The investor already owns a 20 per cent stake via a holding company.
CNBC
4 days ago
- Business
- CNBC
Thyssenkrupp steel, workers agree on site closures, less working hours in revamp
Thyssenkrupp and trade union IG Metall on Saturday said they had agreed on reduced working hours, lower bonus payments and site closures as part of a push to revamp Germany's largest steelmaker. The accord with steel workers marks a major step in Thyssenkrupp's restructuring, under which the former German industrial icon is planning to turn into a holding company, and comes after renewed tension between management and labour representatives. Implementation of the new collective bargaining agreement, which runs until September 30, 2030, must be approved by IG Metall members at Thyssenkrupp's steel unit TKSE and is pending an agreement on the division's future financing, they said. The agreement follows Thyssenkrupp's announcement that up to 11,000 jobs at the steel unit, TKSE, had to be cut or outsourced and that annual production capacity would be lowered to 8.7-9.0 million tons from 11.5 million tons. "We went to the pain threshold and only made concessions where it was really necessary in order to secure jobs and locations," said Tekin Nasikkol, head of Thyssenkrupp's works council and member of the group's supervisory board. "We have now created the conditions for the company to emerge from the difficult situation out of its own strength," Nasikkol said in a statement. Thyssenkrupp had wanted to reach a deal regarding the restructuring by summer and both sides aim to finalise the current agreement by the end of September. Reaching a wage deal has been seen as a key hurdle to be cleared before Thyssenkrupp can sell an additional 30% stake in TKSE to Czech billionaire Daniel Kretinsky, as planned. The investor already owns a 20% stake via a holding company.
