Forvia and Continental announce job cuts

Citing a lack of competitiveness in Europe, French equipment manufacturer Forvia is set to reduce its global workforce of 75,000 employees by 10,000 by 2028, despite posting favorable results. Meanwhile, German equipment manufacturer Continental is also planning significant job cuts. Originally proposing 5,500 job reductions, the company now anticipates eliminating 7,150 positions by no later than 2025.