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Germany's Continental announces 5,040 layoffs in sweeping overhaul

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By Reuters
Germany's Continental announces 5,040 layoffs in sweeping overhaul
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FRANKFURT (Reuters) – German auto supplier Continental <CONG.DE> on Wednesday said it would pare back its engine manufacturing activities as more stringent emissions rules threaten demand for combustion engine components, resulting in around 5,040 job losses by 2028.

Continental said around 520 jobs will be lost when a site in Roding, Germany – which makes hydraulic components for petrol and diesel engines – is closed down in 2024.

Another 850 jobs are under threat in Limbach-Oberfrohna, Germany once manufacturing of diesel injection components ends in 2028, and a further 2,200 jobs in Babenhausen, Germany are under threat, Continental said.

Another 720 jobs will be lost in Newport News, United States, where hydraulic components for gasoline engines will cease in 2024.

In Pisa, Italy, 750 jobs are under threat because production of petrol engine components will cease by 2028, Continental said.

(Reporting by Edward Taylor; Editing by Michelle Martin)