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.

German parts supplier Continental plans to cut a further 3,000 research and development jobs in its automotive division by the end of 2026, with more than half of the cuts to hit plants in Germany. The company announced on Tuesday that its Nuremberg facility would be shuttered as part of the cuts,

Car parts giant Continental has announced 3,000 job cuts from its global automotive research and development team as part of a move to address efficiency gaps and remain competitive, the German firm said on Tuesday.