LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Thyssenkrupp unions fear loss of rights in Tata deal structure

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Fri, Oct 06, 2017
12:38 am
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Labour bosses at Germany`s Thyssenkrupp said workers` legal say in strategic decisions at the corporate level could be diluted in the planned holding structure for the new venture with India`s Tata Steel .

The two firms agreed last month to merge their European steel operations to create the continent`s second-biggest steelmaker after ArcelorMittal with combined sales of about 15 billion euros ($17.55 billion). The venture would be based in Amsterdam.

Unions at Thyssenkrupp have opposed the deal and are concerned more steel jobs may go in the long term in addition to as many as 4,000 job losses already announced as part of the merger.

In a statement published late on Thursday, the German group`s works council welcomed a pledge by chief executive Heinrich Hiesinger to stand by workers` so-called co-determination rights but were sceptical about how this would play out under the joint venture`s future holding structure.

Co-determination in the coal and steel industries gives equal numbers of labour and capital representatives on company supervisory boards and is seen as key to winning over workers.

"What worries us is that through the planned move of the holding (company) of a potential joint venture to the Netherlands, existing co-determination structures in the group will be undermined," labour leaders said.

"The strategic decisions that are taken in such a holding (company) would in this case be largely removed from the legitimate exertion of influence by labour representatives, staff leaders and unions," they said, adding that preserving co-determination in a future venture with Tata would be their "fervent wish."

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Google Lens passes 500mn installs on the Play Store

Aurobindo Pharma, Biocon, Dr Reddy’s Lab and Divi’s Laboratories: Resilient demand points to another good year for Pharma Sector says HSBC

Facebook has no plan to reinstate Donald Trump's account across apps

IndiaMART has a cash reserve of Rs 500 crore; it has plans to add up to 6000 customers per quarter: Dinesh Agarwal, Founder & CEO

Kiran Jadhav picks Tata Motors stock in Anil Singhvi’s show | Know why he dubbed it a buy

Hyundai invests in startup for automated vehicle inspection system

Sushant Singh Rajput birth anniversary: Tributes by ex-girlfriend Ankita Lokhande, Kangana Ranaut message for 'movie mafias'

HISTORIC! Sensex at WHOPPING 50,000-pt all-time high! Know complete Journey from just 100-pt level

Gold, Rupee and Equity Markets Outlook II Explained by ICICI Securities

Stock Market Opening Bell Today: Sensex scales 50K, NSE Nifty climbs 0.60 pct; Tata Motors, Apollo Tyres shares gain

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved