The job cuts, affecting various areas of the company, will see 1,750 positions eliminated from research and development, with an additional 5,400 job cuts as part of a previously announced cost-cutting program.
Philipp von Hirschheydt, Continental’s automotive chief, emphasised that the restructuring aims to prioritise investments in future technologies for software-defined vehicles. The company remains committed to supporting affected employees by seeking suitable solutions.
Continental’s decision reflects broader challenges facing Germany’s export-focused manufacturing sector, grappling with a global slowdown in growth and high inflation. Other German companies, including Bosch and Miele, have also recently announced significant job cuts.
The economic outlook for Germany remains uncertain, with the government expected to revise its growth forecast downward to just 0.2%. German Vice Chancellor and Economy Minister Robert Habeck described the current economic situation as “dramatically bad” and emphasised the need for increased investment to stimulate economic growth.