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.
The west churns out BETTER EVs in many metrics. They just cost more because they’re not subsidized.
If we allow the Chinese to bankrupt every other manufacturer using subsidies, guess what, they’ll hike the prices 2-3x at least.
This is because at least here in the EU, governments want more people to use transit and fewer new cars to be sold, so they won’t subsidize domestic car production. We even got a brand new car registration tax here as well as an annual road tax here in Estonia, do you consider that a bad thing too? Since it negatively impacts people’s ability to buy more new cars…