In this photo taken on September 11, 2023, BYD electric cars waiting to be loaded on a ship are stacked at the international container terminal of Taicang Port at Suzhou Port, in China's eastern Jiangsu Province. The group as a whole employed around 200,000 people around the world as of the end of 2022. German business publication Manager Magazin reported the planned cuts in the Automotive division Sunday, saying they could number around 5,500, more than 1,100 of which would be at the company’s 30 locations in Germany. The works council of the Automotive division urged the company in an internal statement seen by Reuters to rule out outright layoffs and use all possible measures to keep its workforce on, from part-time retirement for older workers to retraining and reallocating staff. The group’s main businesses are making tires the Automotive division and a third division making digital technologies for autos and other sectors called ContiTech. The news comes amid reports that Continental plans a restructuring and potential selloffs, with CEO Nikolai Setzer saying in September that he was considering a change in ownership of the company’s ContiTech division. The cuts, in the company’s Automotive division, which produces software, safety features and autonomous driving technology, will amount to the “mid-four-digit range,” Continental said. The exact number of job losses was not immediately clear. Berlin - German car parts manufacturer Continental will cut thousands of jobs worldwide as part of a plan to save €400 million ($428 million) a year from 2025, it said Monday.
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