DUESSELDORF (Reuters) - The CEO of German industrial group Thyssenkrupp said on Monday that 2025 would be a decisive year for the group's ongoing transformation.

"The current business year will be a year of decision-making when it comes to our portfolio," CEO Miguel Lopez said in a transcript of his speech to shareholders, to be delivered at the company's annual general meeting on Friday.

He added that Thyssenkrupp's embattled steel business would cut around 5,000 jobs and outsource a further 6,000 positions to contractors.