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Finance

Continental to cut 200 more jobs than initially planned, FAZ reports

Published by Global Banking and Finance Review

Posted on January 22, 2025

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BERLIN (Reuters) -Germany German car parts supplier Continental plans to cut 200 more jobs than initially announced, affecting a site in the western city of Wetzlar, it said on Wednesday.

Around 360 of the 430 employees at the Wetzlar plant would not be offered a job transfer to other Continental sites, a spokesperson said on Wednesday, more than the 160 job losses previously announced as a result of the planned Wetzlar closure.

The spokesman added the company was seeking to offer the affected employees early retirement packages and a possible transfer to other manufacturers in the region.

The group has been eyeing more than 7,000 in job cuts under a restructuring plan that it has been working on for over a year.

(Reporting by Rachel More and Ludwig Burger, editing by Madeline Chambers and Thomas Seythal)