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 situation is a lot more complicated than that. On big enough scales (globally), it’s not actually about the money at all. The countries can literally just print arbitrary amounts of paper money, so money is no concern at all.
What is a concern, however, is everything else. There’s jobs, the way that countries perform on the international stage (geopolitical aspects), future prospects, people’s quality of life, and much much more. All of that matters and is not really mapped to economic numbers such as money. That’s why these micro-economic attempts fail when trying to apply them to the global level.