By Christina Amann and Rachel More
BERLIN (Reuters) -Germany’s Continental plans up to 1,500 additional job cuts at its ContiTech rubber and plastics division, a works council source said on Monday, as the group prepares to sell the business in a far-reaching overhaul of the company.
Continental had previously announced plans to save 150 million euros ($173.16 million) annually from 2028 at ContiTech, which it aims to sell next year to focus the group solely on its core tyres business.
“Previous measures are no longer sufficient,” the company said.
In January, Continental announced plans to close four plants and downsize two others, impacting 580 jobs at ContiTech.
Some 10,000 job cuts have been announced group-wide under the restructuring, which included the spin-off of Continental’s auto parts division – now listed as Aumovio – earlier this year.
The additional measures at ContiTech, which will focus on administrative roles, come in response to a changing market environment, the company said, adding that it hoped to improve competitiveness.
A joint statement from the IGBCE union and Continental’s works council called the plans “another breach of trust” in the restructuring process.
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(Reporting by Christina Amann and Rachel More, Editing by Miranda Murray and Thomas Seythal)
