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Thyssenkrupp cuts further 5,000 jobs to stave off coronavirus hit

Thyssenkrupp cuts further 5,000 jobs to stave off coronavirus hit

November 19, 2020

FRANKFURT (Reuters) – Ailing conglomerate Thyssenkrupp <TKAG.DE> on Thursday said it would need to cut a further 5,000 jobs to ease the impact of the coronavirus crisis on its businesses.

“We’re not yet where we need to be. The next steps could be more painful than the previous ones. But we will have to take them,” Chief Executive Martina Merz said in a statement.

(Reporting by Christoph Steitz; editing by Thomas Seythal)

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