ThyssenKrupp says to axe 2,000 European steel jobs

FRANKFURT: German heavy industry giant ThyssenKrupp said in Friday it intends to axe "more than 2,000 jobs" out a total workforce of 27,600 at its Steel Europe division in a new cost-cutting drive.

"Overall, the workforce of Steel Europe will be cut by more than 2,000 from around 27,600 at present as part of an optimisation programme. A further 1,800 jobs could be cut via possible divestments," ThyssenKrupp said in a statement, adding that the measures would be implemented by its 2014/2015 business year.