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
120 jobs Number of planned job losses
Announcement Date
15 September 2008
Employment effect (start)
Foreseen end date
Description
Continental, a producer of tyres and automotive technology, announced on 15 September 2008 a plan to cut 120 out of 520 jobs at its Hannover truck tyre unit. The reason given by the company was that it plans a reduction in production because of a weaker demand for truck tyres. Continental wants to prevent a slump in profits. The company announced that it would offer employees new posts within the group. As of September 2008, there is no information on when the job losses will be implemented by.
Sources
16 September 2008: Financial Times Deutschland
Citation
Eurofound (2008), Continental, Internal restructuring in Germany, factsheet number 67115, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67115.
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