Thyssenkrupp TKA has asked its steel workers to forego 200 million euros ($236 million) in salaries and bonus payments a year as part of the ailing division’s restructuring, trade union IG Metall said on Friday.
Talks about a new collective bargaining agreement, which is key in Thyssenkrupp’s efforts to sell another 30% of its steel unit TKSE to Czech billionaire Daniel Kretinsky, will continue next week, the union said in a handout seen by Reuters.
IG Metall repeated earlier demands that there would be safeguards for jobs and sites at the steel business, which is facing 11,000 job cuts, either via reductions or outsourcing.
TKSE declined to comment.
($1 = 0.8492 euros)