Continental To Layoff 7,150 Jobs Worldwide
(RTTNews) - German auto supplier Continental AG (CTTAY.PK) on Wednesday announced that it would eliminate nearly 7,150 jobs worldwide by 2025.
The group said in a statement it would lay off 1,750 jobs in research and development, including 380 at software subsidiary Elektrobit.
The company would also shed around 5,400 posts as part of a previously announced cost-cutting program aimed at saving the group 400 million euros by 2025. Continental, which currently employs around 200,000 people worldwide, announced the plan in November without revealing an exact figure of layoffs.
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