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Continental postpones talks on cost, job cuts at German factory
September 4, 2015 / 4:16 PM / 2 years ago

Continental postpones talks on cost, job cuts at German factory

BERLIN, Sept 4 (Reuters) - German auto components maker Continental AG and union representatives have postponed further talks on cost reductions and job cuts at a factory in Gifhorn, after failing to reach an agreement on Friday, the company said.

Both sides have been in negotiations since last November on how to change the cost structure at the plant, which makes electric motors and hydraulic braking systems, with the goal of limiting job cuts.

Continental said it has offered to invest 100 million euros ($111.16 million) in the plant over the next six years and to gradually reduce the workforce to 800 people by 2023, from about 1,500 at present. ($1 = 0.8996 euros) (Reporting by Andreas Cremer; Editing by Greg Mahlich)

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