Continental probably cutting more jobs than previously announced

Last autumn, German business publication Manager-Magazin caught wind of plans at Continental to axe 5,500 jobs in its Automotive group sector. Continental confirmed this shortly afterwards. The magazine now has another exclusive, citing inside information that Continental is currently discussing the elimination of “more than a thousand additional jobs,” leading to cuts in research and development being “more severe than expected.”

According to Manager-Magazine, Philipp von Hirschheydt, member of the Continental Executive Board responsible for the Automotive group sector, is striving to reduce R&D expenditure in this business area by a quarter. Continental has yet to officially confirm this.

This article was originally published by our German sister site, Reifenpresse.de.