Continental to cut 7,150 jobs worldwide

The company employs around 200,000 people

Continental to cut 7,150 jobs worldwide

The tyre company and component manufacturer, Continental, will axe 7,150 jobs as it navigates what The Telegraph is labelling “the difficult switch to electric vehicles”.

Around 5,400 jobs will go as part of a cost-cutting programme, with the remainder being lost in research and development.

The cuts were announced last year as part of a plan to save €400m a year from 2025.

Although best known for the production of tyres, Continental also operates in the fields of autonomous mobility, connectivity, infotainment systems, composite materials, and leisure and lifestyle. The latter includes the development of the ContiHome, along with the creation of a golf training shoe.

A spokesperson for the company said the job losses would help it “increase efficiency” while allowing it to focus on “promising growth areas”.

The impact on the UK is reported to be “very minor”.

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

Source: The Telegraph

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