Germany’s Continental: restructuring may affect 20,000 jobs

Business

BERLIN (AP) — German tire and auto parts supplier Continental said Wednesday that up to 20,000 jobs worldwide will be affected over the next decade by a restructuring program.

The company said that as many as 20,000 of over 244,000 jobs will be “affected by changes,” around 15,000 by the end of 2023, including an unspecified number of job cuts.

Continental said changes may also result from the possible sale of parts of the business and from jobs being transferred to other company locations, or to technologies such as electric mobility.

It plans to close a plant in North Carolina where about 650 employees produce hydraulic brake systems. Continental said the plant, located in the Henderson County town of Fletcher, “has been unable to acquire new customer projects in recent years.”

The company also said discussions will soon begin aimed at closing a plant in Newport News, Virginia, where some 740 people make hydraulic components for engines.

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This story has been updated to reflect the company clarifying that the plant is located in Fletcher, North Carolina, which is in Henderson County.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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