ThyssenKrupp to slash up to 20,000 more jobs: Report

BERLIN: German steelmaker ThyssenKrupp will cut up to 20,000 more jobs in the next fiscal year after already eliminating 12,000 positions due to the financial crisis, a report said on Saturday.

"Through disinvestments and restructuring, the company's personnel will in the next fiscal year be reduced again by 15,000 to 20,000 positions," ThyssenKrupp chief Ekkehard Schulz told the daily Frankfurter Allgemeine Zeitung.

Most of the cuts will come from the sale of some branches of the group. But between 2,000 and 2,500 jobs will also be eliminated from its administration in Germany and abroad, Schulz said.

ThyssenKrupp cut 12,000 jobs in Germany, France, Britain and Romania in the 2008-2009 fiscal year which ended in September.