Continental agrees on 1,600 job cuts in Germany
Continental reached a deal with labor to cut 1,600 German jobs via a voluntary program. The agreement bars forced layoffs until 2030 to prepare for a sale.
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CONTINENTAL AG reached an agreement with labor representatives to cut 1,600 jobs in Germany as part of a cost-saving program. The move targets the rubber and plastics division, ContiTech, to reduce annual expenses by 150 million euros ($177 million) by 2028. This restructuring prepares ContiTech for a planned sale later this year as the parent company pivots to its core tire business.
