Continental to Cut Up to 20,000 Jobs, Shut Factories in Sweeping Overhaul
- The second-biggest auto parts maker currently employs about 244,000 people in 60 countries.
https://www.industryweek.com/talent/article/22028294/continental-to-cut-up-to-20000-jobs-shut-factories-in-sweeping-overhaul
Continental plans to close two U.S. factories that make hydraulic components, – one in Virginia and the other in North Carolina – as well as a truck tire site in Malaysia. Production of hydraulic parts will also be phased out at two plants in Germany and one in Italy. Chief Executive Officer Elmar Degenhart said the company will use attrition to reduce headcount and offer alternative jobs in other sites if possible. “We can not rule out” forced cuts as a “measure of last resort,” he said.