Continental AG is cutting around 3,000 research and development jobs at its automotive unit as the German parts maker prepares to spin off the struggling business.
The reductions — equating to about 10% of the R&D workforce — will be made by the end of 2026, with fewer than half of them in Germany, Continental said Tuesday.
The manufacturer is bracing for weak sales at the auto division, which it plans to spin off by the end of this year despite the car industry downturn. The business makes products including brakes and automated driving systems, and accounts for roughly half of group revenue.
The planned cuts will be achieved largely without laying off staff, with measures including not replacing workers who leave and hiring internally, Continental said. German sites affected include those in Babenhausen and Frankfurt.
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