Continental AG Could Cut 10 per cent of its Hanover Tyre Workforce

Continental AG will make a decision in the next fortnight about whether to cut 10 per cent of jobs (320 positions) at its tyre factory in Hanover-Stoecken, chief executive Manfred Wennemer told Frankfurter Allgemeine Sonntagszeitung. “The fact is we have an over-capacity of tyre (production),” Wennemer said. “The costs at Stoecken are higher than at any other plant in Western Europe. We are not talking 10 cents higher, but more than a euro higher per tyre produced,” Wennemer said.