Continental plans to shut Newport Information plant in 2024 as a part of restructuring

BERLIN (AP) — German tire and auto elements provider Continental stated Wednesday that as much as 20,00zero jobs worldwide can be affected over the following decade by a restructuring program, together with 740 at its Newport Information facility.

The corporate stated that as many as 20,00zero of over 244,00zero jobs can be “affected by adjustments,” round 15,00zero by the tip of 2023, together with an unspecified variety of job cuts.

Its seeking to shut the 615 Bland Blvd. location in Newport Information, which produces hydraulic elements for engines, in 2024.

Continental stated adjustments can also end result from the doable sale of elements of the enterprise and from jobs being transferred to different firm areas, or to applied sciences corresponding to electrical mobility.

It additionally plans to shut a plant in North Carolina the place about 650 workers produce hydraulic brake methods. Continental stated the plant, situated within the Henderson County city of Fletcher, “has been unable to amass new buyer tasks in recent times.”