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: throws billions of tax payers money for decades at auto industry
stimulating the economy
China: tries to do the same
unfair capitalism!!!
If it makes Yankees feel better, they should just mentally add a “TM” mark next to “China” when talks about subsidies arise.
BTW the Dacia spring is priced similarly to the Chinese models. Maybe it’s not simply China bad, maybe it’s the western manufacturers who lost their dominion.
Dacia is a western manufacturer lol, Renault is French.
Who threw billions in tax money at Mercedes? Audi? BMW?