Reuters.HANOVER – Continental, the German auto-parts manufacturer, is set to undergo a significant restructuring of its automotive division, aiming to streamline operations and bolster its competitive edge in the market. The company has announced plans to dissolve its smart-mobility business and consolidate the automotive business into five distinct areas. This strategic move is expected to result in job reductions in the mid-four-digit range starting from 2025.
Under the leadership of Philipp von Hirschheydt, the restructuring initiative is designed to “increase efficiency and effectiveness” within the organization. Continental anticipates this plan will generate annual savings of approximately 400 million ($427.4 million). The comp…
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