Germany’s Financial Times Deutschland reports that sources within Continental have disclosed that cuts will occur at the recently acquired unit, however the company declined to officially comment to the German financial newspaper.
A reduction of 2,000 jobs includes the 500 job cuts Siemens was considering before the unit’s purchase by Continental. Financial Times Deutschland further commented that, should the details of the cuts be accurate, they might in part allay concerns of the IG Metall trade union, which feared that up to 7,000 jobs may have faced the axe. (Tyres & Accessories/Staffordshire, U.K.)
