Thyssenkrupp Steel, labor union agree on cost-cutting plan

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a sign of the headquarters of ThyssenKrupp

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Thyssenkrupp (OTCPK:TYEKF) and labor union IG Metall announced Saturday an agreement for a major cost-cutting drive, which involves thousands of job cuts and lower wages for workers at Germany’s largest steelmaker.

Following three days of negotiations, the parties reached a new

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