12:38 - 13.11.2023

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November 13, Fineko/abc.az. Continental is cutting jobs in its automotive business.

ABC.AZ reports that according to Manager Magazin, Continental plans to cut about 5,500 jobs in the automotive business worldwide, more than 1,000 in Germany.

The magazine, with reference to company's executives, informs that the cuts will affect mainly administrative divisions. At that, such areas as production and development, as well as tire production are excluded.

"Continental is exploring further measures to strengthen the competitiveness of the automotive sector," the company said in a response to a request from Dow Jones Newswires.

This includes possible changes in administrative structures that will allow for faster and faster decisions in the future and relieve the cost side.

The company is currently exploring what measures are best suited to achieve its goals "and strengthen its competitiveness".