* Highlights:
* Continuation of global structural program 'Transformation 2019-2029' aims to strengthen competitiveness in the long term
* Resolutions of the Supervisory Board approve plans already discussed at its meeting on
* Accelerated transition to electric mobility necessitates adjustments and the phasing out of production at several locations worldwide
* Rapid digitalization of display and control technologies, increasing competitive and cost pressures: phasing out of production at Babenhausen location; talks to be held about future prospects in
* Support for employees: broadened internal job market, expanded retraining measures as well as local collaborations
* Focus on profitable growth areas: autonomous and connected driving; services for mobility customers; and the tire, industrial and end-customer businesses
In a further resolution, the Supervisory Board approved the structural adjustment at the Babenhausen location in
With these resolutions, Continental will push ahead with the announced Transformation 2019-2029 program as planned. This program aims to strengthen the company's competitiveness in the long term and to ensure its viability in the future.
In addition, the company's management informed the Supervisory Board that talks will be held as soon as possible with the local works council in
Focus on growth areas of the future
Continental's CEO Dr.
Referring to the next steps, Degenhart added: 'We have been holding intensive, constructive talks with employee representatives for some time. The crucial question now is: how can we implement the necessary measures responsibly and with foresight so that we can emerge stronger from the current reorganization. We will be supporting those employees affected as much as possible.'
Best-possible support for employees in the transformation process
Continental, together with employee representatives, has expanded its corporate-wide internal job market considerably for employees affected by the structural program. Furthermore, the company recently founded the
Greater retraining opportunities and a larger internal job market will help to place employees in vacant or soon-to-be-vacant positions in the global corporate network and to retain skilled staff. Furthermore, Continental will also work locally with other companies in the affected regions to help find employees new jobs.
Information about the location measures that were discussed at the Supervisory Board's meeting on
1. Roding (Germany ): Discontinuation of production and development of hydraulic components for gasoline and diesel engines (high-pressure pumps) in 2024, resulting in the closure of the location. As things stand, around 520 jobs will be affected.
2.Newport News, Virginia (U.S.A.): Closure of the location in 2024, where around 720 people are currently employed. Hydraulic components for gasoline engines (injectors) are manufactured at the plant.
3. Limbach-Oberfrohna (Germany ): Discontinuation of the hydraulic components business for diesel engines (injectors) in 2028. As things stand, around 850 jobs will be affected at this location.
4.Pisa (Italy ): Discontinuation of production of hydraulic components for gasoline engines (injectors) from 2023 to 2028. As things stand, around 750 jobs will be affected at this location.
5. Babenhausen (Germany ): Phasing out of production of display and control technologies of the Instrumentation & Driver HMI business unit by the end of 2025. Moreover, certain research and development activities are to be transferred to other locations by the end of 2021. As things stand, over 2,200 jobs will be affected. The business unit will continue to be managed from Babenhausen, including development and administration activities.
Contact
Head of Media Relations
Phone: +49 511 938-1364
E-mail:
vincent.charles@conti.de
Dr.
Dr.
Head of
Phone: +49 511 938-1485
E-mail:
media@conti.de
(C) 2019 Electronic News Publishing, source