Forvia to Cut 10,000 Jobs to Better Compete in EV Transition [Yahoo! Finance]
CONTL AG S/ADR (CTTAY)
NASDAQ:AMEX Investor Relations:
continental-corporation.com/en/investors/overview
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Source: Yahoo! Finance
artificial intelligence to better compete with Asian rivals in the shift to electric cars. Most Read from Bloomberg Largest Covid Vaccine Study Yet Finds Links to Health Conditions Wall Street's Moelis Bet Big on the Middle East. Now He's Cashing In Trump Keeps NY Empire Intact as Judge Rescinds Asset-Sale Order China Stocks' Insipid Reopen Adds Pressure on Beijing to Do More Stocks Pause Near Record as Traders Await Catalyst: Markets Wrap The French company's effort to slim down by about 10,000 jobs includes changes to regional manufacturing and spending on research and development, Chief Executive Officer Patrick Koller said Monday. This would improve profit margins and keep pace with the industry's fundamental changes, he said. The stock fell 13% in Paris after analysts questioned Forvia's prospects in China, where suppliers face increasing challenges in the EV market. The shares have lost 31% since the start of the year. The share drop highlights the “the uncerta
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