BERLIN — German tire and auto parts supplier Continental says that up to 20,000 jobs worldwide will be affected over the next decade by a restructuring program.
The company said Wednesday that as many as 20,000 of over 244,000 jobs will be “affected by changes,” around 15,000 by the end of 2023, including an unspecified number of job cuts.
Continental said changes may also result from the possible sale of parts of the business and from jobs being transferred to other company locations, or to technologies such as electric mobility.
It plans to close a site in Henderson, North Carolina, where some 650 employees produce hydraulic brake systems, and said discussions will soon begin aimed at closing a plant in Newport News, Virginia, where some 740 people make hydraulic components for engines.
This story has been corrected to fix the time element from Tuesday to Wednesday.
The Associated Press