The cuts represent about 10% of Bosch’s total workforce in the country, and 3% of its staff worldwide. Workers’ representatives vowed to resist the cuts, labelling them ‘unprecedented.’
German industrial giant Bosch said Thursday, September 25, it would cut 13,000 jobs, mostly in its auto unit, in the latest blow for the country’s ailing car sector.
The auto industry in Europe’s biggest economy has been hammered by fierce competition in key market China, weak demand and a slower than expected shift to electric vehicles.
The cuts, all of which will take place in Germany, represent about 10% of Bosch’s total workforce in the country, and 3% of its staff worldwide.
Bosch − the world’s biggest auto supplier, making everything from braking and steering systems to sensors − said the layoffs were needed to help make annual savings of €2.5 billion in the group’s car unit.
A friend of mine is a higher up and checks the numbers of plants and their productions. They found out that for certain plants numbers were not verifiable. They saw this coming. There is mismanagement in plants here, and plants that don’t really make anything, but try to fake their numbers. But we’re talking about plants that technically have good potential either, but have the wrong focus, at least that’s what my friend believes. I’m not surprised this happened.
I’m keeping this message intentionally vague to protect my friend.