Dutch workers oppose Tata and Thyssenkrupp merger

Source: The Hitavada      Date: 22 Oct 2017 11:56:30


LONDON,

Oct 21,

(PTI)

THE workers at Tata Steel’s Netherlands unit have expressed concerns over a Memorandum of Understanding (MoU) signed between the Indian steel major and the German giant Thyssenkrupp to combine their European steelmaking operations into a joint venture.

The Central Works Council (CWC) of Tata Steel Netherlands (TSN) said in its newsletter this week that it was concerned about the lack of its involvement in the ongoing negotiations and the fear of job losses at the Netherlands site. “The number of jobs will be greatly reduced, and will go beyond the suggested figure of 4,000 job losses across the joint venture (JV) as a whole.

Current indications are that the new company plans to outsource large swathes of the support services to low-wage countries,” the CWC said. Tata Steel workers also believe it remains unclear how the new business will be financed and where the liabilities will be placed in the business.