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A clear decision at automobile supplier and tire manufacturer Continental! The German company wants to make profits again. Things are not going well, especially in the automotive supply industry. According to the group’s statement on Monday, annual cost savings of 400 million euros will be achieved in the administrative field starting from 2025.
Therefore, countless employees will also have to believe this: According to “Manager Magazine”, a total of 5,500 people will be laid off. In the automotive supply industry, this rate will be 5 percent of all employees. Continental writes in its statement that the number of jobs affected will likely be in the mid-four-digit range.
Now the question arises: Are Swiss employees also affected by layoffs? Continental has 650 employees in this country. “We cannot make any statements at this time on how the planned measures will affect our locations,” Blick said when asked. This is a pity: Swiss workers have to keep shivering until they are sure.
Widely used in Switzerland
Continental has been operating in Switzerland for more than 40 years. The German company operates a logistics center in Neuendorf SO with a truck fleet of ten vehicles. Continental tires can be found in numerous garages throughout Switzerland.
At Capital Markets Day on December 4, Continental will present a comprehensive strategy update for its automotive supply division. One thing is already clear: there will be only five job sites instead of six. The Smart Mobility space will be completely unraveled. Research on “future mobility” was conducted here.
During the transition phase in 2024, employees will be divided into other business areas based on natural overlap within the automotive supply division. In addition to its automotive supply division, Continental also operates in the industrial field. The company provides smart service solutions to mining and rail transport, among other things.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
