As of: March 26, 2024, 3:44 p.m
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The Continental logo in front of its headquarters: The automotive supplier is cutting 7,000 jobs worldwide.
© Moritz Frankenberg / dpa
Auto supplier Continental wants to cut more than 7,000 jobs worldwide.
Two locations in Hesse are also falling victim to the austerity measures.
1,200 jobs are affected.
Frankfurt/Main – The automotive supplier Continental wants to merge its automotive locations in Hesse and thus cut a total of 1,200 jobs.
The Schwalbach and Wetzlar locations would be closed by the end of 2025 and work would gradually be relocated to Frankfurt and Babenhausen, the company announced on Tuesday.
Some of the workforce should then move.
The remaining positions are to be eliminated in a “socially acceptable” manner.
Jobs are also to be eliminated or relocated in Frankfurt and Babenhausen.
In total, 2,300 of the approximately 8,000 employees in the Rhine-Main area are affected, of which 1,100 are due to change locations.
According to the company, both administration and research and development are affected.
Continental: job cuts part of the consolidation program
“With these measures we are improving our cost structure and, in particular, strengthening cooperation in research and development,” said Automotive board member Philipp von Hirschheydt, according to the statement.
Frankfurt, already the headquarters of the automotive division, is to be expanded into a competence center for vehicle software and architectures, and Babenhausen is to become a location purely for displays and cockpits.
The job creation is part of the consolidation program for the weak division announced in February.
7,150 jobs are to be eliminated worldwide and locations are to be merged.
As a result, administrative costs should fall by 400 million euros from 2025 and spending on research and development should fall to less than ten percent of sales by 2028.
(dpa, lf)