TU-TESL

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On November 20 local time, Continental, a German auto parts supplier, announced plans to cut production, Auto News reported. The company will cut 5040 jobs by 2028 as stricter emission regulations hit demand for internal combustion engine parts. Continental further said that its Rodin, Germany, plant that makes hydraulic parts for gasoline and diesel engines would be closed in 2024, or about 520 people would be unemployed. In addition, once the production of diesel injection components is terminated in 2028, the company's 850 jobs in linbach oberfrone, Germany, and 2200 jobs in babenhausen will also be threatened. The 720 jobs in the U.S. newportnius plant will no longer exist after the shutdown of the hydraulic components of the gasoline engine in 2024, while the 750 jobs in Pisa, Italy, will also be threatened after the end of the production of the components of the gasoline engine in 2028. Founded in 1871, Continental is one of the world's leading suppliers of automotive supporting products. Continental is fourth on the list of the world's top 100 auto suppliers released by auto news. According to the financial report, the company's global sales in 2018 reached US $37.8 billion.