German auto parts Manufacturer Continental is planning to layoff thousands of workers in the near future, the company said Monday.
The move comes as Continental aims to cut €400 million in operational costs by the year 2025.
Though the company said the layoffs would be in the mid-four-digit range,” Continental failed to announce the exact number of employees that will be affected by the layoffs.
Continental is set to reveal its full strategic plan on Dec. 4.
