Name: Thyssenkrupp to cut another 5,000 jobs
Uploaded: 2020-11-19T18:15:29.000Z
Duration: 1 min 10 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

another bid by German conglomerate teas and group to stem the bleed, 5000 more jobs are to be axed at the sprawling conglomerate.

Participle clauses with adverbial meaning

It said on Thursday that it's trying to control losses across its empire after posting a $1.9 billion operating loss in its latest financial year.

Advanced passive voice

Despite closing the sale of its elevators business in July for more than $20 billion the group remains in crisis and its CEO said more painful restructuring might be needed to stop the cash burn.

The company said it expected to make a decision about what to do with its struggling steel making business in the spring.

It had tried to set up a joint venture with India's Tar Tar Steel, but was blocked by Brussels on antitrust grounds.

Last year, the division swung too big losses as the global slowdown hit demand.

Shares in the company, which also makes ships and car parts, have fallen about 60% this year.

 By Thursday afternoon, they were down another 6% with analysts saying the outlook for the coming year was disappointing. 

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Thyssenkrupp to cut another 5,000 jobs

struggle

crisis

expect

demand