France: Continental employees agree to the management’s savings plan despite pressure from their European colleagues

Saving.  On Monday, September 13th, Continental Automotive workers in Toulouse approved, in a referendum, the 8% savings plan proposed by the management in exchange for a minimum 5-year employment guarantee.  In addition to an almost complete wage freeze until 2011, the plan provides for lower incentive bonuses and minus two days off until 2015. In return, the management promises to maintain the workload until 2015.  While the company is making money (+38 million in 2009 in Toulouse, according to the CFDT), the savings plan aims to anticipate a slack anticipated by the management in 2012 and 2013.