Automotive supplier Continental will cut 7,150 jobs worldwide. “Around 5,400 jobs will be affected” in administration, and 1,750 in the research and development branch, “by 2025 at the latest,” the group said in a press release.
The objective of the program is in particular to achieve 400 million euros in savings per year in the company's automotive division. Like the entire sector in Germany, the company is suffering from excessively high energy costs and the difficult transition to electric mobility.