German auto parts giant Continental AG is cutting around 3,000 research and development jobs in its automotive division, a move that comes as the company prepares to spin off the struggling business amid broader turmoil for the auto industry stemming The post Continental Slashes 3,000 R&D Jobs as Auto Sector Struggles As EV-Driven Auto Sector Slump Deepens appeared first on Breitbart.
German auto parts manufacturer Continental AG is cutting approximately 3,000 research and development jobs in its automotive division, equivalent to about 10% of its R&D workforce, with most cuts occurring by the end of 2026. The reductions, which will primarily rely on attrition and internal hiring rather than direct layoffs, aim to address financial pressures in the automotive sector, particularly as the industry grapples with the shift toward electric vehicles (EVs). The automotive division, which generates roughly half of Continental’s revenue, has faced significant financial strain, prompting the company to spin off the struggling business. While not explicitly tied to EV market challenges, the timing of the cuts coincides with broader industry struggles, including slowing EV demand, regulatory pressures, and economic factors such as inflation and rising labor costs. The move reflects broader challenges across the automotive sector, as companies like Volkswagen and Porsche have also implemented mass layoffs amid slower EV adoption and weakening global auto sales.
