Continental is preparing to cut thousands of jobs
At the end of 2022, the company employed around 200,000 workers.
Thousands of jobs are being cut worldwide by Continental, CNN reports. The German auto parts maker is looking to save €400 million a year from 2025 with the measure. The planned cutbacks will focus on simplifying and streamlining the business and administrative structure. According to reports, the job cuts will affect around 5,500 jobs, 1,100 of which will be in Germany. The company will employ around 200,000 people worldwide by the end of 2022
Another automotive company, Robert Bosch, has also recently announced plans to cut jobs.