After the buyout of automobile parts supplier Continental by the family group Schaeffler, the workforce in this firm are demanding the same treatment as their new colleagues with active participation in the decision-making process as well as in profit-sharing. For Continental's workers, the buyout brings a relative guarantee of job security until 2014. (Ref. 080702)
Rarely have workers of two firms been both happy with the takeover of one by the other as in the Schaeffler purchase of Continental, two heavyweights in the German automobile suppliers industry. In terms of workforce, the operation, which took place in August, adds the 150.000 Continental workers to the 66.000 at Schaeffler. In late August, Schaeffler’s management signed an agreement with its unions (IG Metall and IG BCE) and representatives of the Continental works council. This agreement guar
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