Continental to Cut 7,150 Jobs in Savings Push at Auto Unit
- Auto-parts maker weighs pooling number of sites in Germany
- Supplier is seeking efficiencies in tough EV, digital shift
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Continental AG is cutting around 7,150 positions in its struggling auto unit to make the business more competitive for the complex shift to electric vehicles and digital offerings.
The reduction amounts to roughly 3.6% of the Hanover-based manufacturer’s global workforce. The company is also looking to pool sites in Germany and elsewhere, including across research and development functions, it said Wednesday.