Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 20 February 2024, the German automotive supplier Continental will be cutting approximately 2,860 jobs in Germany by the end of 2025 due to internal restructuring.
The restructuring is part of a worldwide restructuring programme which will affect 7,150 jobs which is about 3% of Continental’s entire worldwide workforce. According to a Continental spokesperson, approximately 40% of the affected jobs are in Germany – thus 2,860.
Continental intends to be more efficient and competitive on the world market, making a job reduction inevitable, according to the company. Continental emphasises that the reduction will be as socially acceptable as possible and will be achieved via natural fluctuation and voluntary programmes. Affected units are administration with 5,400 jobs in danger of being cut as well as the research and development department with estimated 1,800 cuts. How those numbers are distributed in Germany is unclear as of today.
Current available information details that 630 jobs in Frankfurt will be cut, as well as 350 jobs in Regensburg and 225 in Ingolstadt. Further information on the distribution of cuts is estimated to become available soon. In 2023, Continental cut jobs in Germany at its site in Gifhorn Continental-2024-DE.
Eurofound (2024), Continental, Internal restructuring in Germany, factsheet number 200876, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200876.