Continental to reduce R&D staffing in automotive division
Reuters
Published Feb 14, 2024 13:13
BERLIN (Reuters) - German autos supplier Continental will reduce research and development staffing in its automotive group sector by 1,750 jobs by the end of 2025, the company said on Wednesday, part of a wider business restructuring in the division.
The company also plans to reduce the share of expenditure on research and development in the sector to 9% by 2028, it added, although absolute expenditure will increase in line with sales growth.
Continental had warned last November that it would cut thousands of jobs in its automotive division worldwide as part of a plan to save 400 million euros ($428.32 million) a year from 2025.
The works council of the automotive division urged the company in an internal statement at the time to rule out outright dismissals and use all possible measures to keep its workforce on, from part-time retirement for older workers to retraining and reallocating staff.
Continental said on Wednesday that the job cuts, which will affect locations worldwide, would be done "gradually and as socially responsible as possible in line with local conditions".
The company was also analysing a "consolidation of locations" in the Rhine-Main region, it said, without providing further details.
($1 = 0.9339 euros)
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Written By: Reuters
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