financetom
Business
financetom
/
Business
/
Tata Steel reaches agreement with labour unions in Netherlands
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Tata Steel reaches agreement with labour unions in Netherlands
Jul 3, 2020 10:10 AM

Tata Steel on Friday said that it has reached an agreement with Dutch labour unions to resolve differences with the employees in the region, which had resulted in a strike in IJmuiden.

Share Market Live

NSE

As part of the agreement, the employment pact for employees in the Netherlands will be extended by five years and there will be no compulsory redundancies from the company’s transformation programme.

Henrik Adam, CEO of Tata Steel in Europe, said: “This agreement should give our employees the confidence that Tata Steel is fully committed to building a sustainable future for IJmuiden. We share an ambition with our employee representatives to restore IJmuiden’s position as the most competitive steel plant in Europe.”

Tata Steel’s Dutch operations were facing protests and demonstrations for over 25 days. The company’s employees at Ijmuiden had staged continuous strikes since June 10. The unions said that the company planned to scrap 1000 of the 9000 jobs at the site. The demands of the workers included agreements about job security, a robust strategic plan, ending the integration with Tata Steel UK and non-transfer of profits to Tata Steel UK.

The agreement with the union was reached late last night. Tata Steel’s Dutch management team, meanwhile, will discuss the transformation programme, and the resulting job losses with the local works council following a consultation process.

Hans van den Berg, Tata Steel’s IJmuiden hub director, said: “We are pleased to report we have reached an agreement with all unions. That is good news for Tata Steel, for IJmuiden and all of us. We held discussions late into the night yesterday and thanks to everyone's constructive attitude reached an agreement.”

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved