Germany: Schaeffler brings joint management home and breaks a taboo

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25 February 2009 à 09h02

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Publication: 25 February 2009 à 09h02

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25 February 2009 à 09h02

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Publication: 25 February 2009 à 09h02

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fects. After objecting to it for several years, the Schaeffler family group announced, on February 23, 2009 in a joint press release with the IG Metall union, that it accepted to extend joint management in its firm. In exchange, the German car equipment manufacturer, deeply in debt since it bought its rival, Continental, is hoping that the powerful metal union will help it get financial aids from the State and the Lander, which is the only way it can avoid bankruptcy. (Ref. 090206)

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