The reductions are part of a plan to reduce annual costs by 400 million euros ($428 million), the company said. The exact number of job cuts is not yet decided but is expected to be in the “mid four-digit range,” Continental said in a statement on Monday.
Manager Magazin reported earlier that the company plans to eliminate 5,500 jobs — 1,000 of them in Germany
I guess the hype about electric vehicles and autonomous cars is over. Automotive Industry is going back to normal.