Phoenix announces job losses

Hamburg, Germany--Phoenix AG has reportedly announced 700 job losses over the next two years, from 2700 employees in Hamburg. Noone from the company was available for comment.

The company reportedly told workers just hours before the annual Christmas party that the jobs would be moved out of Hamburg in the wake of the acquisition by Continental AG.

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Forbes story

Hamburg evening paper story 1 (German language)

Hamburg evening paper story 2 (German language)

Hamburg evening paper story 3 (German language)