German auto parts company Continental will cut more than 7,000 jobs
February 14, 2024
German automotive supplier Continental plans to cut 7,150 jobs worldwide by 2025.
The automotive sector has been forced to retool as consumer demand shifts to electric vehicles.
Continental, which makes tires and other car parts, said 1,750 jobs would be eliminated in research and development, while the other 5,400 job cuts were previously announced as part of a cost-cutting program.
The company’s automotive chief Philipp von Hirschheydt said the move would allow the company to “further focus our resources on future technologies for software-defined vehicles.”
“We are aware of the impact on our employees and will do everything in our power to find good, personalized solutions (for employees),” he added.
Continental is the latest German company to cut jobs
Continental is the latest German manufacturer to announce job cuts as the country’s export-focused industry faces a global slowdown in growth and high inflation.
Giants like Bosch and Miele have also created thousands of jobs in recent months.
Source: DW
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