HANNOVER (dpa-AFX) - More than 600 jobs are to be cut at Continental subsidiary ContiTech. This was announced by the company on Friday. The plan is to cut 642 jobs at locations in Lower Saxony, Hesse and Thuringia without compulsory redundancies. The background to this is the reorganization of the hose business.

The company has reached an agreement with the employee representatives on a reconciliation of interests and a social compensation plan, it said. The jobs are to be cut through partial retirement arrangements, early retirement models or further placement within the Group, among other things. For the first time, there will also be a hardship fund.

The locations affected are Northeim and Hann. Münden in southern Lower Saxony, Korbach and Oedelsheim in northern Hesse and Waltershausen in western Thuringia./xma/DP/ngu