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.
You’re right that this is geopolitical too: China is on the offensive. They’re trying to ensure the west (EU at least - USA is going to end itself anyway and Canada is too small to count on its own) is completely dependent on them. I’m of the opinion that countries should try to get along without one of them forcing the others into submission. But China is not being a diplomatic or trade partner in good faith.
As it is, I think it’s fair to tariff them where they’re trying to attack us specifically. There are also a lot of industries we’ve already lost because of the cost of labor here vs there - I don’t see any need to tariff those, I’m not Trump. I just want to see Europe protect the industries it’s still good at because otherwise we’ll be completely broke in a few decades if we have neither goods nor services to sell. Or we may all have to live like the Chinese do - get rid of some workers rights, reduce wages, etc - to stay competitive. Maybe start doing the 996 work schedule?