Conti Delays Pay to Meet Loan Terms
Continental AG has reportedly opted to put payroll payments on hold for “a few days” in June to so it can honour its loan commitments. According to a report published by Bloomberg, all of Continental’s 45,000 workers in Germany as well as some in France and the US will be affected. Bloomberg quoted Continental’s headquarters as saying that Employees will receive their wages by July 3 at the latest. However, Continental Tyre Group representatives confirmed the news won’t affect UK employees.