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
2,250 jobs Number of planned job losses
Announcement Date
25 September 2019
Employment effect (start)
1 November 2019
Foreseen end date
31 December 2025
Description
Continental, a leading German supplier in the automotive sector, announced 2,250 jobs cut by the end of 2025 at its Babenhausen plant. The restructuring plan is part of the company’s global restructuring programme for weathering the upcoming challenges of the automotive sector. In Babenhausen the production of a steering tool will be terminated, and it will lead to reduction of 1,800 manufacturing jobs. These job cuts shall be covered by a social plan; 450 positions in the development unit of the company will be outsourced, relocated or reduced via natural fluctuation.
The metalworkers’ union IG Metall already announced that they do not agree with the plan, which does not seem to take into consideration workers’ previous efforts.
Following on a supervisory board meeting on 24 September, management announced the intention to save about €500 million in gross costs per year from 2019 to 2023. In Germany some 5,000 jobs and globally a total of 15,000 positions shall be affected 'by changes' due to digitalisation and weak sales.
Eurofound (2019), Continental, Internal restructuring in Germany, factsheet number 98758, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98758.
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