Automotive equipment manufacturer Continental announced this Monday that it intends to eliminate thousands of jobs worldwide in order to cut annual administrative costs of 400 million euros starting in 2025.
The German group said it had not yet decided on the exact number of jobs it would cut.
“The exact number of jobs affected worldwide has not yet been determined, but it will be in the four digits,” possibly in the “middle” of that range, the Continental group said in a statement.
Manager Magazin reported over the weekend that the cuts would affect about 5,500 jobs, including 1,000 in Germany, citing company sources.
This number would represent about 3% of the company’s 200,000 employees worldwide.
Job eliminations should mainly cover administrative functions.
Continental, which plans to implement all measures with the greatest possible social responsibility, will provide further information on its strategy on December 4th.
Author: Lusa
Source: CM Jornal
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