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Continental wields the red pencil: 3,000 jobs cut
The supplier Continental plans to cut more jobs in light of the crisis in the automotive industry. In the weakening automotive supply division, another 3,000 jobs worldwide in research and development are expected to be eliminated by the end of 2026, with 1,450 of them in Germany, the company announced. Hesse and Bavaria are particularly affected, and the Nuremberg site is set to close completely.
Continental had already announced a year ago the elimination of 7,150 jobs in the automotive division, including 5,400 in administration and 1,750 in development. This has now been implemented to 80 to 90 percent, it was said. With the newly announced further 3,000 job cuts, the number increases to more than 10,000. Continental cited the worsening situation in the automotive industry as the reason for the renewed reduction.
Frankfurt affected again
220 developer jobs are to be cut once more at the largest automotive site with 4,000 employees in Frankfurt. Conti had already cut hundreds of jobs there last year. The same number applies to Babenhausen in Hesse, which currently has around 1,800 employees. According to the company, the closure of the Nuremberg engineering site affects 140 employees there.
Further positions are to be cut in Ingolstadt (20 out of 1,550) and Regensburg (40 out of 3,800). In Wetzlar and Schwalbach, where Conti had already announced closures for 2024, fewer employees than initially planned are to move to other locations. As a result, 200 additional jobs will be cut in Wetzlar and 10 in Schwalbach.
There is also a reduction in jobs at the software subsidiary Elektrobit, which is headquartered in Erlangen and has locations including Berlin, Stuttgart, and Braunschweig. There, 480 positions are to be cut, 330 of them in Germany. An Elektrobit spokeswoman did not provide further details on specific locations upon request.
Every Tenth Developer Job Will Be Cut
Around ten percent of the current 31,000 developer jobs worldwide are to be cut. Conti aims to make the downsizing as socially responsible as possible: A large part of the job adjustments should occur through natural attrition, such as retirements. Details are to be negotiated with employee representatives.
Due to the challenging market situation, it has become evident that previous measures were insufficient to achieve their own goals, said a Conti spokesperson. Therefore, further jobs now need to be eliminated. The aim remains to reduce spending on research and development to less than 10 percent of sales by 2028.
“Forward-looking technology offerings are critical for our company,” said Automotive Chief Philipp von Hirschheydt in a statement. “Therefore, we are investing substantially in research and development in the coming years. At the same time, we are continuously improving our competitiveness in terms of our sustainable market success.”
Works Council Chairman: "No Sustainable Future Strategy"
Sharp criticism came from the employee side.
"We are deeply concerned that the severe cuts in automotive research and development will expand into a comprehensive clear-cutting," said Michael Iglhaut, head of the central works council, according to a statement. "Job cuts and cost reductions at any price" are not a sustainable future strategy. The "intended bleeding out of the German locations" weakens the division, which Continental still wants to release into independence this year.
In December, Continental announced plans to spin off its struggling automotive supplier division and take it public as a separate company. The shareholders' meeting still has to approve this, and the division's IPO under a new name is to take place by the end of the year. The division has long been considered the problem child of the company and has repeatedly posted losses in recent years.
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