Potential layoffs at Continental spark worry among German employees
Bloomberg has reported that Continental, a major player in the automotive industry, is contemplating layoffs. Continental is not only noted for tire production, it also manufactures a wide range of automotive components.
1:36 PM EST, November 13, 2023
As many as over 1,000 jobs at 30 locations in Germany are potentially at risk. The roles primarily in question are those in administration - according to Bloomberg's citation from the German magazine "ManagerMagazin".
It seems that as of now, the production and development departments are safe. However, the corporation will explore cost-cutting measures in its administrative division. Reports suggest that Continental aims to save about 400 million euros each year in an effort to enhance its competitive edge and boost its market standing.
"We're considering changes in administrative structures to expedite decision-making and make it more efficient, and also to diminish the future expense burden" - says Continental's spokesperson, Marc Siedler.
The automotive section of Continental employs nearly 25,000 people. Employees will receive updates about any impending decisions in the weeks ahead.
