Continental will close its Aachen plant by the end of 2021, which will affect around 1800 employees, reported by the German Handelsblatt newspapter.
The Germany company had announced the expansion of its restructuring programme to save one billion euros by 2023 and which will take a toll on 30000 jobs worldwide.
The report said, “So far, the austerity measures have mainly applied to the automotive division. Conti bundles its vehicle components and software business there - the core business of the Hanover-based supplier. Since Corona, the division has been suffering from falling car sales.
The report also added that according to the chemical union IG BCE, which represents the employees of the rubber division, the Aachen is the most modern and manufactures particularly high-margin tyres.