AGL 41.50 Increased By ▲ 2.96 (7.68%)
AIRLINK 128.00 Decreased By ▼ -1.50 (-1.16%)
BOP 6.26 Increased By ▲ 0.65 (11.59%)
CNERGY 4.13 Increased By ▲ 0.27 (6.99%)
DCL 8.44 Decreased By ▼ -0.29 (-3.32%)
DFML 40.69 Decreased By ▼ -1.07 (-2.56%)
DGKC 87.90 Decreased By ▼ -0.40 (-0.45%)
FCCL 34.10 Decreased By ▼ -0.90 (-2.57%)
FFBL 66.33 Decreased By ▼ -1.02 (-1.51%)
FFL 10.56 Decreased By ▼ -0.05 (-0.47%)
HUBC 108.70 Decreased By ▼ -0.06 (-0.06%)
HUMNL 14.46 Decreased By ▼ -0.20 (-1.36%)
KEL 4.65 Decreased By ▼ -0.10 (-2.11%)
KOSM 7.33 Increased By ▲ 0.38 (5.47%)
MLCF 42.72 Increased By ▲ 1.07 (2.57%)
NBP 60.84 Increased By ▲ 1.24 (2.08%)
OGDC 178.97 Decreased By ▼ -4.03 (-2.2%)
PAEL 25.70 Decreased By ▼ -0.55 (-2.1%)
PIBTL 6.06 Increased By ▲ 0.09 (1.51%)
PPL 146.15 Decreased By ▼ -0.55 (-0.37%)
PRL 24.91 Increased By ▲ 1.30 (5.51%)
PTC 16.14 Decreased By ▼ -0.42 (-2.54%)
SEARL 70.20 Increased By ▲ 1.90 (2.78%)
TELE 7.22 Decreased By ▼ -0.01 (-0.14%)
TOMCL 36.20 Increased By ▲ 0.25 (0.7%)
TPLP 7.84 Decreased By ▼ -0.01 (-0.13%)
TREET 15.59 Increased By ▲ 1.39 (9.79%)
TRG 50.36 Decreased By ▼ -0.09 (-0.18%)
UNITY 26.90 Increased By ▲ 0.15 (0.56%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,795 Decreased By -11.1 (-0.11%)
BR30 29,647 Decreased By -31.2 (-0.1%)
KSE100 92,021 Decreased By -282.9 (-0.31%)
KSE30 28,665 Decreased By -175.5 (-0.61%)

Managers and labour leaders at Germany's ThyssenKrupp have struck a conciliatory tone as they seek to resolve a dispute over job cuts resulting from a planned merger of its steel operations with those of India's Tata Steel. The de-escalation came after 8,000 steel workers protested on Wednesday, the day the Essen-based company announced improved annual results and a record order book, demanding guarantees to preserve jobs and production sites for 10 years.
"The negotiations started in a matter-of-fact atmosphere," a company spokesman said late on Friday after a working group held a first round of talks. A spokesman for the IG Metall trade union said the two sides had agreed on two of its demands - for an independent appraisal of the deal, as well a study of the risks arising from Tata Steel's pension obligations to its British workers.
Managers from both companies will inspect each other's production sites over the next two weeks to examine their respective operational fitness. Thyssenkrupp and Tata Steel in September announced plans for a joint venture that would create Europe's second-largest steelmaker after ArcelorMittal. The merger would result in up to 4,000 job cuts, although workers fear the toll could end up higher.
Chief Executive Heinrich Hiesinger has said the deal actually offers the best chance to preserve jobs as ThyssenKrupp, which employs 27,000 people in its steel division, seeks to diversify into more promising businesses like high-tech elevators and car components.
"Everything that will be negotiated and possibly agreed will depend on our judgment of these appraisals," IG Metall said. "The same applies: If (the merger) is not economically viable it doesn't represent a concept that IG Metall can support."

Comments

Comments are closed.