A study published on 16 October, and jointly carried out by the Fraunhofer Institute of Applied Science Research and the IG BCE chemicals and energy trade union friendly Work and Environment Foundation has analyzed overlaps between Germany’s auto industry and the chemicals, plastics and rubber industries; the goal of which was to measure the effects of changes currently occurring in the overall auto industry.
Is Continental’s 8% job cutting programme indicative of an underlying trend? Recently, Continental, Germany’s third largest automaker, announced that the nation’s automakers transition towards electric vehicles would first lead to a drop in business volumes at the company. Electric engines require fewer components to produce than naturally aspirated engines. As a result Continental expects to cut up to 20,000 jobs from their 244,000 global headcount. Continental is an interesting case...
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