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rdf:type	schema:NewsArticle
schema:articleBody	Troubled German industrial giant Thyssenkrupp on Thursday said it was slashing 5,000 more jobs, taking total cuts to 11,000 as the coronavirus pandemic takes a massive toll. The group, which employs more than 100,000 people, announced the layoffs over three years. The group also forecast a full year loss topping one billion euros ($1.2 billion) on the heels of a 5.5 billion euro deficit for the fiscal period that ended in September. The news cast a shadow on 9.5 billion euros ($11.2 billion) in net profit largely down to the 17.2 billion euro sale in February of its lucrative elevator division. The group showed an adjusted operating loss for 2019-2020 of 860 million euros as Covid-19 weighed heavily with the firm already having embarked upon a vast restructuring operation. "The coronavirus pandemic is a massive stress test for Thyssenkrupp. Our top priority remains the protection of our employees and our businesses," said Chief Executive Officer Martina Merz. "Despite the headwind, we have achieved important milestones in the transformation of the group," Merz said in a statement. But she added: "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." The group said 3,600 jobs have already been shed so far this year. Sales fell 16 percent in 2019-2020 to 35.4 billion euros and left the group indicating it was loking for partners to help shore up steel operations. In the past year steel operations saw an adjusted oprating loss of 946 million euros. Britain's Liberty Steel, founded and led by Sanjeev Gupta, made an offer for the group's steel activities last month. There have also been discussions with Sweden's SSAB and India's Tata Steel. Unions are pushing for state participation in the group's capital. Thyssenkrupp shares, which have lost almost 60 percent over the year, were off almost four percent in early trading fcz/cdw/ach
schema:headline	Thyssenkrupp slashes more jobs as pandemic bites
schema:mentions	Tata Steel Merz Pharma Elevator Industry Liberty Steel Sweden Chief executive officer Pandemic India Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 SSAB Sanjeev Gupta Occupational stress Top Priority CDW
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-11-19 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	51 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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