German tire and auto parts manufacturer, Continental, has announced the layoff of 7,150 employees by 2025. The aim of this operation is to improve competitiveness and improve production efficiency.
This year, Continental intends to eliminate 7,150 jobs in the automotive division most affected by the slowdown in automobile production, especially electric cars.
Layoffs will actually take place this quarter and will cover a total of 3.6%. Total workforce in the entire group. 5,400 people in the administration and purchasing department and 1,750 in the research and development department will lose their jobs.
As part of improving efficiency, it will be possible to transfer production to a single factory, which will reduce component transportation costs.
In the first phase, the entire operation is expected to achieve savings of €400 million and improve competitiveness.
“This will allow us to enhance competitiveness, use synergistic effects and accelerate the development of new products,” says Philipp von Hirschheidt, Vice President of Continental Automotive Production, quoted in the statement.
Continental produces tires under the following brands: Continental, Semperit, Parum, Matador, as well as ABS systems, airbags, drive systems, electronic control units, tachographs and hundreds of other products.
Clients are automobile companies such as BMW, Honda, Toyota, Porsche, Volvo and Volkswagen.
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