<p>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.</p>.<p>The group, which employs more than 100,000 people, announced the layoffs over three years.</p>.<p>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.</p>.<p><a href="https://www.deccanherald.com/international/coronavirus-updates-cases-deaths-country-wise-worldometers-info-data-covid-19-834531.html"><strong>Coronavirus Worldometer | 15 countries with the highest number of cases, deaths due to the Covid-19 pandemic</strong></a></p>.<p>The newscast 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.</p>.<p>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.</p>.<p>"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.</p>.<p>"Despite the headwind, we have achieved important milestones in the transformation of the group," Merz said in a statement.</p>.<p>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."</p>.<p>The group said 3,600 jobs have already been shed so far this year.</p>.<p>Sales fell 16 percent in 2019-2020 to 35.4 billion euros and left the group indicating it was looking for partners to help shore up steel operations.</p>.<p>In the past year steel operations saw an adjusted operating loss of 946 million euros.</p>.<p>Britain's Liberty Steel, founded and led by Sanjeev Gupta, made an offer for the group's steel activities last month.</p>.<p>There have also been discussions with Sweden's SSAB and India's Tata Steel.</p>.<p>Unions are pushing for state participation in the group's capital.</p>.<p>Thyssenkrupp shares, which have lost almost 60 percent over the year, were off almost four percent in early trading</p>
<p>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.</p>.<p>The group, which employs more than 100,000 people, announced the layoffs over three years.</p>.<p>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.</p>.<p><a href="https://www.deccanherald.com/international/coronavirus-updates-cases-deaths-country-wise-worldometers-info-data-covid-19-834531.html"><strong>Coronavirus Worldometer | 15 countries with the highest number of cases, deaths due to the Covid-19 pandemic</strong></a></p>.<p>The newscast 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.</p>.<p>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.</p>.<p>"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.</p>.<p>"Despite the headwind, we have achieved important milestones in the transformation of the group," Merz said in a statement.</p>.<p>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."</p>.<p>The group said 3,600 jobs have already been shed so far this year.</p>.<p>Sales fell 16 percent in 2019-2020 to 35.4 billion euros and left the group indicating it was looking for partners to help shore up steel operations.</p>.<p>In the past year steel operations saw an adjusted operating loss of 946 million euros.</p>.<p>Britain's Liberty Steel, founded and led by Sanjeev Gupta, made an offer for the group's steel activities last month.</p>.<p>There have also been discussions with Sweden's SSAB and India's Tata Steel.</p>.<p>Unions are pushing for state participation in the group's capital.</p>.<p>Thyssenkrupp shares, which have lost almost 60 percent over the year, were off almost four percent in early trading</p>