Workforce and Workforce Regulation Sample Clauses

Workforce and Workforce Regulation. Terex acknowledges that the dedicated workforce of Demag Cranes AG and the Demag Cranes Affiliates is the foundation of the current and future success of Demag Cranes. Terex expressly views the Transaction as an opportunity for growth for Demag Cranes' workforce and other stakeholders and not as an acquisition which is directed towards cost reductions to the detriment of the Demag Cranes workforce. Conversely, Terex acknowledges that the success of the Transaction - and in particular the continued business success of Demag Cranes - depends on the creativity of the Demag Cranes workforce and their potential for innovation, both of which heavily rely on the competence and commitment of the employees of Demag Cranes. Terex intends to continue and further strengthen a constructive dialogue with all of Demag Cranes' workforce constituencies and to support the Management Board in maintaining and developing an attractive and competitive framework to retain an excellent and worldwide employee base. In particular, except to the extent required by law, Terex undertakes (a) not to cause Demag Cranes to take or initiate any action aiming at the amendment or termination of existing shop agreements (Betriebsvereinbarungen), collective bargaining agreements (Tarifverträge) or similar agreements of Demag Cranes AG and/or any Demag Cranes Affiliate; (b) to respect the rights of the employees, works councils (Betriebsräte) and unions (Gewerkschaften) existing within or with regard to Demag Cranes AG and the Demag Cranes Affiliates under applicable laws, regulations, arrangements and agreements; (c) not to cause Demag Cranes to initiate any action aiming at a change of the employer's collective bargaining jurisdiction (Tarifzuständigkeit auf Arbeitgeber-seite); and (d) not to cause Demag Cranes to take actions that would lead to a change of the existing level of co-determination in the Supervisory Board.
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Related to Workforce and Workforce Regulation

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