The Continental Works Council
has warned management and the supervisory board against the spin – off of the
Drive division at the expense of the workforce. “As a result
the spin-off must not lead to job losses “,
a letter from Hasan Allak and head of the group works council
its deputy Lorenz Pfau from Tuesday, that of the Germans
Press agency available. The company emphasized the agreed
The planned outsourcing of the
Division into the new company Vitesco Technologies
“not affected”.
The top two employee representatives continued to write, including the
financial basis of both Conti and Vitesco
be “sustainable and resilient”. The cost pressure in
Group rise when larger parts of sales are sold.
The works councils directed to the board and inspectors:
“Secure employment and future viability of both
Companies!”
It is important to build trust now. Then the conversion of
Continental and the development of Vitesco succeed. The supplier group
from Hanover, the bottom line in 2019 was a loss of billions
and is currently facing the upheaval in the automotive industry
towards sensors, electronics and software. It could
in addition to creating new jobs to cut staff in classic
Areas like hydraulics and combustion technology come.
A spokesman said talks are currently underway
securing employment on such employees of the
Continental AG expand that for future Vitesco business
produce and are therefore directly affected by the spin-off.
Several trade unionists are critical of the scope and pace of the conversion –
especially because some plant closures have also been announced.
Works council chief Allak demands that possible operational
Terminations are not an issue. CEO Elmar Degenhart wants
avoid them, but do not exclude them “in extreme cases” if
such as further training or placement in alternative jobs without success
are.
An analysis of the conversion plans by a consulting company showed
that there are consequences for “personnel structures and employment” at Conti
and Vitesco will give, Allak and Pfau write. Besides that
Continental “has to bear additional financial burdens”, which is the case with
Vitesco’s initially targeted partial IPO would not have come.
Provided that the Supervisory Board and, at the end of April, the Annual General Meeting
Vitesco should agree to plans as a separate company in the
start in the second half of the year. CFO Wolfgang
Schafer had recently reported that it was used for
Components of electric drives in the current business area already
Orders worth 1.8 billion euros placed./jap/DP/men
ISIN DE0005439004
AXC0366 2020-03-10 / 17:14
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