Continental to cut 2,000 VDO jobs, plant endangered

Newswire

HANOVER, Germany, Feb 21 (Reuters) - Germany's Continental , the world's fifth-largest automotive parts supplier, expects to cut 2,000 jobs at Siemens VDO worldwide as part of its restructuring plans through 2009, it said on Thursday. "We cannot and do not want to rule out layoffs but they are the ultima ratio, when there is no other possibility," Chief Executive Manfred Wennemer told a news conference. The figure includes all 450 production jobs at VDO's Wetzlar plant, he added. ...

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