Continental has announced thousands of job cuts as an “initial” step towards improving competitiveness, as one of the world’s largest suppliers to the car industry battles to remain competitive in the electric vehicle era.
The German group on Monday said measures designed to save €400mn annually would affect a “mid four-digit range . . . across all parts and all levels” of the 100,000 people employed by its automotive division, which makes up roughly half of the company’s total workforce.
Philipp von Hirschheydt, the company’s new head of automotive, referred to the cuts of “administrative” roles in sales, research and development as well as production as “initial measures”, opening the door for potential further cuts.
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