Continental to Cut 3,000 Jobs Globally and Close Key German Site

The auto supplier's restructuring aims to prepare its struggling Automotive division for a planned spinoff and stock market debut later this year.

Continental announced plans to eliminate 3,000 jobs in its Automotive division's research and development sector by the end of 2026, with 1,450 positions affected in Germany.
The job cuts include the complete closure of the engineering site in Nürnberg, impacting 140 employees, and reductions at other German locations, including Frankfurt, Babenhausen, and Regensburg.
This follows a previous announcement of 7,150 job cuts in the same division, bringing the total reductions to over 10,000 positions as the company grapples with challenges in the auto industry.
The restructuring is part of Continental's strategy to reduce research and development costs to under 10% of revenue by 2027, while facing criticism from labor representatives over the impact on German operations.
The Automotive division, long considered a financial weak spot for the company, is set to be spun off as a separate entity and listed on the stock market by the end of 2025, pending shareholder approval.