Kloepfel MagazinKloepfel Magazin
    Top Article

    2023: How the Kloepfel Group strengthens procurement

    19. January 2023

    Procurement 2023

    17. January 2023

    Kloepfel Consulting Austria expands management

    16. January 2023
    Facebook Twitter Instagram
    • Kloepfel Group
    • Kloepfel Consulting
    • Kloepfel Karriere
    LinkedIn Twitter Facebook Instagram YouTube
    Kloepfel MagazinKloepfel Magazin
    • START
    • NEWS
      • HWWI
      • INTERVIEWS
      • CAREER
      • KLOEPFEL GROUP
      • WHITEPAPER
      • SURVEY
      • INDUSTRY NEWS
        • ENGINEERING
        • LOGISTICS
        • SUPPLY CHAIN
    • NEWSLETTER
    • CONTACT
      • IMPRINT
      • PRIVACY POLICY
    Kloepfel MagazinKloepfel Magazin
    Home»Industry News»Supply Chain»Continental cuts 30,000 jobs
    Supply Chain

    Continental cuts 30,000 jobs

    By Kloepfel20. August 2020Updated:22. September 20202 Mins Read
    LinkedIn Facebook WhatsApp Email
    Share
    LinkedIn Facebook Twitter WhatsApp Email

    €1 billion per year to be saved

    The automotive supplier Continental must take cost-cutting measures because of the Corona crisis. The company has been struggling with bad news for a few years now. First it was announced that nine plants in the drive division would be closed and that the coolant plant in Oppenweiler would not be able to survive for long. Now the pandemic is forcing Continental to make even more drastic cost reductions. Previously, group president Elmar Degenhart spoke only of approximate figures such as “several hundred million euros” that must be saved.

    Continental recently announced that parts of the strategy now presented “are likely to lead to the relocation or closure of plants and parts of operations at locations with permanently high costs, technologies that are being phased out or foreseeable medium to long-term uneconomic utilization of production capacities”.

    Examples of savings measures

    Savings are to be made in production, research and development. A savings target of over one billion euros per year is being considered. Before that, it should only be 500 million. Degenhart explains: “The entire automotive industry currently faces enormous challenges. None of its crises of the past 70 years has been bigger or sharper. It hits the suppliers particularly hard”.

    In other words: 20,000 job cuts will turn into 30,000. In Germany, the number will then grow by 6,000 to 13,000 jobs, which are to be cut. These include the Thuringian plant in Mühlhausen, which employs 150 people – it is to be closed by 2022. The automotive plant in Karben is also to stop production by 2024. At the moment around 1,100 people are employed there. The company management announced that a total of 90 percent of the measures are to be implemented by 2025.

    Continental is not alone

    The automotive industry will be forced to take austerity measures. Not only the economy is weakening, but the effects of the pandemic are also straining the market. While manufacturers are having to produce less and reduce overcapacities, suppliers are also far from being fully operational.

    That is why not only Continental has to take such drastic measures. ZF Friedrichshafen has also announced plans to cut 15,000 jobs. Reduced working hours and redundancies will also affect Bosch employees.

    Source: www.kloepfel-consulting.com

    Share. LinkedIn Facebook Twitter WhatsApp Email

    Related Posts

    Fewer companies planning price increases

    9. January 2023

    Sustainability of great importance for transport companies

    9. January 2023

    AI-based drug discovery

    9. January 2023

    BMW Group agrees supply of CO2-reduced steel

    12. December 2022

    Supply bottlenecks burdened industrial value creation to the tune of billions of euros

    12. December 2022

    German industry responds to supply chain disruptions

    12. December 2022

    Comments are closed.

    Top Artikel

    2023: How the Kloepfel Group strengthens procurement

    By Kloepfel19. January 2023

    Year kick-off interview with Marc Kloepfel and Duran Sarikaya Marc Kloepfel and Duran Sarikaya talk…

    Procurement 2023

    17. January 2023

    Kloepfel Consulting Austria expands management

    16. January 2023

    Taiwan conflict: 6 tips against supply bottlenecks for microchips

    12. January 2023

    Raw material prices remain unchanged in November

    11. January 2023
    Stay In Touch
    • Facebook
    • Twitter
    • Instagram
    • LinkedIn
    About us
    About us

    Das Magazin für den effektiveren Einkauf!

    Kloepfel Consulting GmbH
    Pempelforter Strsse 50
    40211 Düsseldorf

    Telefon: +49 211 941 984 33
    E-Mail: info@kloepfel-consulting.com

    New Article

    2023: How the Kloepfel Group strengthens procurement

    19. January 2023

    Procurement 2023

    17. January 2023

    Kloepfel Consulting Austria expands management

    16. January 2023
    LinkedIn Facebook Twitter Instagram
    • Home
    • News
    • Contact
    • Imprint
    • Privacy Policy
    © 2023 Kloepfel Consulting GmbH All rights reserved

    Type above and press Enter to search. Press Esc to cancel.