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.
I didn’t even realize Bosch was involved with autos, but apparently:
A fuel pump is colloquially called a boschpump here. Even when its not made by bosch, they’ll tell you your boschpump is bad.
They’re huge. And a significant part of their portfolio is specific to combustion engines.
Not the reason for the layoffs.
German automakers are driving consumers to other companies, thanks to poor reliability and genius ideas like subscriptions for features. They make too many similar models, all overpriced and none reliable. Buyers are fed up.
Bosch doesn’t build cars though, they make parts, specifically a lot of parts for combustion engines such as engine control units. I’m sure you’ll find their parts in a lot more than just german cars. So this is about cars with combustion engines, not about german cars.
That itself is more of a symptom than the root cause.
I’ll take, “What is the root cause?” for a million ruples, Alex
I see, hence the layoffs.