FRANKFURT: German heavy industry giant ThyssenKrupp said Tuesday it plans to axe 3,000 administrative jobs worldwide as its losses widened in the second quarter.
"Overall the number of employees in administrative functions in the group worldwide is to be reduced by around 3,000 from its current level of around 15,000," ThyssenKrupp announced as it calculated that its net loss stood at 89 million euros ($116 million) in the period from January to March.
ThyssenKrupp runs its business year from October to September.
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