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Continental appointed company veteran Roland Welzbacher to succeed Olaf Schick as CFO as the German manufacturer sheds units to focus on its more profitable tires business.

Continental AG is returning to its roots, abandoning decades of expansion into auto and industrial parts to focus on its more profitable tires business.

The reductions, which correspond to 14% of the brand’s German workforce, won’t affect factory workers. “Audi must become faster, more agile and more efficient,” said CEO Gernot Döllner.

The model will offer more than 155 miles of range and is the “last piece of the puzzle” for VW’s next-generation lineup, said Thomas Schaefer, CEO of the brand.

Continental AG will try to pass on the cost of tariffs imposed by President Donald Trump to its customers, according to the German parts maker’s finance chief.

Continental AG said its automotive unit will struggle to increase sales this year as the German supplier pushes ahead with plans to spin off the ailing division despite the car industry downturn.

If insufficient progress is made on a deal by early Dec. 18, the board of union IG Metall is prepared to hold a vote at the end of the week to pave the way for 24-hour walkouts.

Arne Meiswinkel, the automaker’s chief negotiator, said the plan includes a 10% pay cut and revised bonus system. The measures aim to strengthen the VW brand.

Volkswagen AG plans to close at least three factories in Germany as Europe’s biggest automaker tries to slash expenses to become more competitive.

Volkswagen is ending job protections for auto workers in Germany as part of its cost-cutting push, setting up a showdown with unions.