Continental said it would cut around 3,000 research-and-development jobs in its automotive segment because of a challenging market environment. The German car-parts company on Tuesday said the cuts amounted to around 10% of its global research-and-development jobs.

Continental AG is cutting around 3,000 research and development jobs at its automotive unit as the German parts maker prepares to spin off the struggling business.

Continental A.G. plans to cut 3,000 research and development positions, or 10 percent of the R&D work force, within its Automotive Group sector by the end of 2026.

Auto supplier Continental plans to shutter one plant in Germany, as the company has fallen short of financial targets, despite earlier cutbacks.German auto parts supplier Continental announced major reductions in its workforce on Tuesday,

German auto supplier Continental said Tuesday it will cut a further 3,000 jobs by the end of 2026, the latest sign of weakness for the country’s auto sector. The job reductions will be in research and development,