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.
Here’s a short reminder that one of the major causes why Hitler got into power was because there was an unemployment crisis in germany and hitler promised to give the people jobs.
Unemployment crises can be a major crisis, people shouldn’t underestimate this.
I am advocating for human spaceflight and mars settlement mostly because it would generate jobs and give people something to do; hopefully enough to distract them from destroying the world.