German tire manufacturer Continental announced last week that 7,150 of their employees will be laid off by 2025. Electric cars are to blame.
These are austerity times in the automotive industry. This also applies to the German tire manufacturer Continental. The provisional consequence is that 7,150 of the company's employees will be without work before the end of the year.
That's what Automotive News writes.
The number of layoffs equates to Continental saying goodbye to more than three percent of its total workforce.
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It is primarily in the administration department that there will be cuts. But also people who are responsible for development must expect that their department will be thinned out.
The savings round will provide the distressed company with over 400 million euros, corresponding to just under 3 billion kroner in 2025.
– We are aware that this will affect our employees. And we will do everything we can to find good solutions for them, says head of Continental Automotive, Philipp von Hirschheydt.
Philipp von Hirschheydt says the savings the company hopes to achieve will enable it to focus 'more on future technologies in cars driven by software'.
Continental is just the latest company in the automotive industry to announce massive layoffs. One of the most popular car brands in Denmark is also going through a serious diet. Read more about it here .
