BERLIN (AP) — German tire and auto parts supplier Continental said Wednesday that up to 20,000 jobs worldwide will be affected over the next decade by a restructuring program, including 740 at its Newport News facility.
The company said that as many as 20,000 of over 244,000 jobs will be “affected by changes,” around 15,000 by the end of 2023, including an unspecified number of job cuts.
Its looking to close the 615 Bland Blvd. location in Newport News, which produces hydraulic components for engines, in 2024.
Continental said changes may also result from the possible sale of parts of the business and from jobs being transferred to other company locations, or to technologies such as electric mobility.
It also plans to close a plant in North Carolina where about 650 employees produce hydraulic brake systems. Continental said the plant, located in the Henderson County town of Fletcher, “has been unable to acquire new customer projects in recent years.”