The automotive supplier Continental has announced the elimination of 7150 jobs worldwide as part of a cost reduction plan aimed at strengthening competitiveness in the difficult transition to electric mobility.
“About 5400 jobs will be affected” in total for administrative positions and 1750 in the research and development sector, including 380 jobs at the software subsidiary Elektrobit “by 2025 at the latest,” the group revealed in a press release detailing the restructuring plan announced at the end of 2023.
It appears that the tire production unit of Continental in Portugal, located in Famalicão, with 2600 employees, will not be affected by the now confirmed restructuring plan, which will have implications for the Automotive division.
“By simplifying our research and development network, we will leverage synergies and reduce costs. Combined with our focus on shorter development times and future high-growth technologies, this will improve our long-term competitiveness,” said Philipp von Hirschheydt, member of the Executive Board and responsible for the Automotive area at Continental, in a statement.
