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TUI AG – a group under pressure from the capital market. A workforce fights successfully against the break-up of its company

Author

Listed:
  • Alexandra Krieger

    (Head of economics reporting, Department for the promotion of co-determination, Hans Böckler Foundation)

Abstract

For years, TUI AG was pressured by active shareholders to concentrate on its core business - tourism - and break free from the shipping company Hapag-Lloyd AG. For five years, by constantly adopting new group restructuring measures, the Board managed to fend off the shareholders' demand. Then, in 2008, it finally opted to sell, triggering an unprecedented fight by the workforce to prevent the company from being sold to Asia. In the end, dogged persistence, strategic skill and sheer courage enabled the Board to pull off something that virtually everyone had written off as impossible: Hapag-Lloyd was sold to a Hamburg-based consortium and the associated jobs remained in Hamburg.

Suggested Citation

  • Alexandra Krieger, 2009. "TUI AG – a group under pressure from the capital market. A workforce fights successfully against the break-up of its company," Transfer: European Review of Labour and Research, , vol. 15(2), pages 251-270, May.
    • Handle: RePEc:sae:treure:v:15:y:2009:i:2:p:251-270
    DOI: 10.1177/102425890901500207
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