Auto-Parts Maker Continental May Cut 5,500 Jobs
An employee on the production line at the Continental AG manufacturing plant in Frankfurt, Germany.
Photographer: Ben Kilb/BloombergThis article is for subscribers only.
Continental AG, one of Europe’s largest auto-parts makers, may announce 5,500 job cuts representing 3% of its staff worldwide as soon as Monday, according to ManagerMagazin.
More than 1,000 jobs will be axed at roughly 30 locations in Germany, mostly in administrative positions, the business magazine reported citing company officials it didn’t identify.