About: http://data.cimple.eu/news-article/aa1999c38ef6f11e10460b3ffbd2b56fad667c80276de000f98ca63e

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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	German car parts maker Continental on Tuesday said it plans to close a tyre plant, costing 1,800 jobs, in the latest blow to the beleaguered auto industry. The firm aims to shut down its factory in the city of Aachen in northwestern Germany by the end of 2021. The coronavirus pandemic has "reinforced" a decline in the tyre sector that has been years in the making, a Continental spokesman said. However, according to trade union IG BCE, which represents the company's rubber division employees, the factory was "in the black" up until the spring of 2020. "The cuts in the rubber business can't be explained either by the transformation of the car industry or by the coronavirus crisis. This is simply a matter of cutting for the sake of cutting," said IG BCE representative Francesco Grioli, who also sits on Continental's supervisory board. "This will meet with our resistance at all levels." The Hanover-based company announced just two weeks ago that it would expand its restructuring programme. Around 30,000 jobs globally will be "modified, relocated or made redundant", including 13,000 in Germany, as Continental aims to save more than a billion euros ($1.2 billion) annually from 2023. The company blamed "persistently low global vehicle production as well as the deepening economic crisis as a result of the coronavirus pandemic." Continental last month said the group's net profit plunged 41 percent to 485 million euros in the second quarter. Fellow German car parts maker Schaeffler recently said it would cut 4,400 jobs as it struggles to recover from the fallout of weeks of lockdowns earlier in the year. edf/mfp/wai
schema:headline	Continental to shut German car plant, slash 1,800 jobs
schema:mentions	Trade union EDF Energy Natural rubber Germany City Pandemic Severe acute respiratory syndrome coronavirus 2 IG Bergbau, Chemie, Energie Schaeffler Group Aachen The Cuts Supervisory board
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-15 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	77 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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