This article has been reviewed according to Science X's editorial process and policies. Editors have highlighted the following attributes while ensuring the content's credibility:

fact-checked

reputable news agency

proofread

German auto supplier Continental says to cut 7,150 jobs

Germany's auto suppliers have been facing problems as the transition to electric mobility gathers pace, after decades relying on fossil fuel vehicles for their profits.
Germany's auto suppliers have been facing problems as the transition to electric mobility gathers pace, after decades relying on fossil fuel vehicles for their profits.

German auto supplier Continental said Wednesday it would cut some 7,150 posts worldwide by 2025 as the difficult switch to electric vehicles forces companies in the sector to retool.

The group, which makes and supplies components to automakers, said in a statement it would shed 1,750 jobs in research and development.

It would also lose around 5,400 posts as part of a previously announced cost-cutting program aimed at saving the group 400 million euros ($428 million) by 2025.

Continental, which currently employs around 200,000 people worldwide, announced the plan in November without putting a precise figure on the number of jobs that would go.

"We are aware of the impact on our employees and will do everything we can to find good, tailored solutions (for employees)" Continental's automotive chief Philipp von Hirschheydt said.

The cuts would allow Continental to "focus our resources even more on for software-defined vehicles", von Hirschheydt said.

Germany's auto suppliers have been facing problems as the transition to electric mobility gathers pace, after decades relying on fossil fuel vehicles for their profits.

Continental is also the latest German manufacturer to announce as the country's export-focused industry contends with a global slowdown in growth and high rates of inflation.

Appliance maker Miele said earlier this month it would eliminate up to 2,700 posts amid low demand for its products, while Bosch announced plans in December for 1,500 job cuts.

© 2024 AFP

Citation: German auto supplier Continental says to cut 7,150 jobs (2024, February 14) retrieved 19 April 2024 from https://techxplore.com/news/2024-02-german-auto-supplier-continental-jobs.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Auto supplier Continental to cut thousands of jobs

29 shares

Feedback to editors