Continental CEO warns staff of layoffs, cost cuts
Continental CEO warns staff of layoffs, cost cuts
German automotive supplier Continental must save hundreds of millions of euros in costs and will probably have to lay off workers due to a slump in demand caused by the coronavirus pandemic, WirtschaftsWoche cited the CEO as saying. "This will be very painful, but we have no other choice," CEO Elmar Degenhart told staff in an internal video, according to accounts from company insiders reported by the business news weekly.
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German automotive supplier Continental must save hundreds of millions of euros in costs and will probably have to lay off workers due to a slump in demand caused by the coronavirus pandemic, WirtschaftsWoche cited the CEO as saying. "This will be very painful, but we have no other choice," CEO Elmar Degenhart told staff in an internal video, according to accounts from company insiders reported by the business news weekly.
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Continental CEO warns staff of layoffs, cost cuts originally appeared on Autoblog on Wed, 10 Jun 2020 08:21:00 EDT. Please see our terms for use of feeds.
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