Germany's Continental to cut thousands of jobs and close plants
Germany's Continental to cut thousands of jobs and close plants
German automotive supplier Continental AG on Wednesday said it would cut jobs and close plants over the next 10 years as it faces a slowing global auto sector. The program will result in costs of around 1.1 billion euros (972.9 million pounds), which will mainly be incurred between 2019 and 2022, the company said after a meeting of its supervisory board. The slowdown in the auto sector has prompted profit warnings from various suppliers, including Continental, in recent months.
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German automotive supplier Continental AG on Wednesday said it would cut jobs and close plants over the next 10 years as it faces a slowing global auto sector. The program will result in costs of around 1.1 billion euros (972.9 million pounds), which will mainly be incurred between 2019 and 2022, the company said after a meeting of its supervisory board. The slowdown in the auto sector has prompted profit warnings from various suppliers, including Continental, in recent months.
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Germany's Continental to cut thousands of jobs and close plants originally appeared on Autoblog on Thu, 26 Sep 2019 08:31:00 EDT. Please see our terms for use of feeds.
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