Thyssenkrupp Cutting 5,000 More Jobs After Posting $6.5 Billion Loss

GALWAY, IRELAND--December 1, 2020--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--German industrial giant Thyssenkrupp, owner of Europe's second-largest steelmaker, Thyssenkrupp Steel Europe, has announced plans to cut a further 5,000 jobs after posting a net loss of 5.5 billion euros ($6.5 billion) for its latest financial year.

Within this article: Details further job cuts, financial losses, performance of steel business, future plans, related European steel sector developments