2023-11-13 14:27:16
By Le Figaro with AFP
Published 2 hours ago, Updated 11 minutes ago
Known mainly for its tires, Continental AG is a German automobile supplier founded in 1871. FABIAN BIMMER / REUTERS
The German automotive supplier does not specify how many jobs will be affected, but puts forward a “four-digit” number.
The German automotive supplier Continental announced on Monday that it wanted to cut thousands of jobs, in a context of weakness in the sector for several years. “We don’t yet know exactly how many jobs will be affected, but the number will likely be in the four digits“, in the middle of the possible range, the group said in a press release.
The group seeks to save 400 million euros in costs in administrative structures from 2025 worldwide, the press release specifies. Sunday, the German newspaper Manager Magazine had put forward a number of 5,500 positions worldwide, including 1,000 in Germany, citing sources within the company. This would represent almost 3% of all of the company’s 200,000 employees worldwide. The cuts should mainly concern administrative positions.
German suppliers face rising energy costs since the outbreak of war in Ukraine, the transition to electric mobility and competition from Asian companies that have climbed the global supplier rankings in recent years. This summer, Continental announced the sale of its automotive materials division, in order to “accelerate its transformation”. The group also announced the closure of one of its German factories, in Gifhorn (center), arguing that costs were too high and that demand was falling.
”
data-script=”
>
#Continental #cut #thousands #jobs