bosch layoffs german giant plans massive job cuts as 'auto industry has significant overcapacities'
German firm Bosch – headquartered in Gerlingen near Stuttgart, is planning significant job cuts as the global auto industry faces significant challenges. The company is expected to lay off nearly 5,500 employees in the near future.
Bosch attributed the decision to global auto sales becoming stagnant and factory capacity exceeding sales prospects in the auto industry. The firm also highlighted that the market for future technologies is not expanding at the rate as originally expected.
Nearly 3,500 of the 5,500 planned job cuts are going to take place before the end of 2027 – possibly impacting the segments of Bosch that are responsible for developing advanced driver assistance and automated driving technologies.”The auto industry has significant overcapacities,” Bosch noted in an official statement. The layoffs are still in the planning stage and the final numbers are going to be released in the near future. Half of the job cuts shall happen across Germany.
On Tuesday, the general assembly adopted the landmark United Nations Convention against Cybercrime, a global treaty to strengthen international cooperation…
According to officials on Tuesday more than 160 Chinese laborers who were constructing an electric vehicle factory for the Chinese…
January 1, 2025, is just around the corner. Scores of people are going to carry fond memories of career progress…
US President-elect Donald Trump is making global headlines for some of his foreign policy plans, putting numerous countries on notice…
Singapore’s Accounting and Corporate Regulatory Authority has unveiled its trading partnership with Vietnam in 2024 during January to November with…
The Turkish government has said that in 2025, the national minimum wage will be 22,104 lira ($627) a month higher…
This website uses cookies.
Read More