The auto parts division of German industrial group Bosch plans to cut “a five-digit number“ of jobs, Handelsblatt reported, citing industry sources.
This means that the cuts in this Bosch division will be more significant than the company previously announced. In July, Bosch announced its intention to cut up to 1,100 jobs.
The German automotive industry is currently going through difficult times. Among the challenges facing the industry are high energy prices, US import tariffs and weak demand for electric vehicles, including due to competition from Asian manufacturers.