The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture Of Parts And Accessories For Motor Vehicles
1,200 jobs Number of planned job losses
Announcement Date
26 March 2024
Employment effect (start)
26 March 2024
Foreseen end date
31 December 2025
Description
The German automotive supplier Continental, headquartered in Hanover, has announced a reduction of around 1200 jobs at its sites in Wetzlar and Schwalbach (Hesse).
The reason for the job cuts is the relocation and merger of the Wetzlar and Schwalbach sites to Frankfurt and Babenhhausen. The measure is part of the company's plan to increase competitiveness. Consolidation is to take place gradually and be completed by the end of 2025.
The measures are expected to affect a total of around 2,300 jobs in Continental's Automotive division in the Rhine-Main region. Of these, around 1,200 jobs are to be cut and around 1,100 relocated to the locations in Frankfurt and Babenhausen. Continental's Automotive sector currently employs around 8000 people in the Rhine-Main region.
The IG Metall trade union has announced its intention to gather its forces and campaign for the retention of the Wetzlar site. Almost 200 employees protested against the closure plans at the Schwalbach site.
The company had a turnover of €41.4 billion in 2023 and around 200,000 employees at 56 locations worldwide.
10 April 2024: Frankfurter Allgemeine Zeitung (www.faz.net)
Citation
Eurofound (2024), Continental Automotive, Relocation in Germany, factsheet number 201054, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201054.
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