Oct 21, 2020 4:30 PM
thyssenkrupp reaches agreement on restructuring of Springs & Stabilizers business unit in Germany
Social plan and reconciliation of interests for Hagen and Olpe sites signed
Socially responsible reduction of around 500 jobs
Transformation of portfolio businesses in Multi Tracks segment progressing
thyssenkrupp today reached agreement with employee representatives on the restructuring of the German sites of its Springs & Stabilizers business unit. The two parties have signed a social plan and reconciliation of interests for the around 500 jobs affected at the Hagen and Olpe sites. The extensive package of measures includes offers of transfers to other jobs at thyssenkrupp, social protection through an outplacement support company including training and help with finding jobs outside the group, and special support programs for older employees up to retirement.
Mario Gropp, CEO of thyssenkrupp’s Springs & Stabilizers business unit: “This negotiation result meets our standards for socially responsible restructuring. With the social plan and reconciliation of interests agreed today, we have created a good framework to provide affected employees with individual support in transitioning from work to work.”
Under the restructuring plan presented at the end of April this year, production of stabilizers at the Olpe site will cease by the end of 2021. This will affect around 330 jobs. The Hagen site is to be realigned on the product side and converted into a center of excellence for the development and manufacture of springs and stabilizers. All development and production capacities of the Springs & Stabilizers group in Germany are to be concentrated in Hagen in the future. This includes prototype construction, production of stabilizers for small series and the spare parts business as well as the serial production of springs for cars and electric vehicles. To this end the site’s entire production strategy will be revised and switched to a higher degree of automation. The optimization of production processes will result in the elimination of up to 160 jobs at the Hagen site by summer 2022. Around 320 people will be employed there in the future.
Since October 1, the start of the 2020/21 fiscal year, the Springs & Stabilizers business unit has been part of the Multi Tracks segment at thyssenkrupp. This segment combines businesses that are to be continued under partnerships or outside the group in the future. The Springs & Stabilizers business unit currently operates nine production sites in Germany, Hungary, Brazil, Mexico, and China and employs around 3,400 people worldwide.
thyssenkrupp in the automotive sector
thyssenkrupp is one of the leading suppliers and engineering partners to the international auto industry. Its products and services include materials, high-tech components and system and automation solutions for automotive OEMs. In fiscal year 2018/19 thyssenkrupp achieved sales of around 10.4 billion euros with customers from the auto industry.