German industrial group Bosch plans to halve its Nuremberg plant by 2029 due to a shortage of component orders, the DPA news agency reported.
The company currently employs 1,800 people at its Nuremberg plant, but management plans to cut up to 900 jobs within three years.
The company cited increased competition in the automotive industry, rising price pressure and declining demand in the European car market for its decision. DPA stressed that Bosch produces components for internal combustion engines and fuel cells in Nuremberg, which continue to lose demand due to the growing demand for electric vehicles in the European Union.
In March, DPA reported that Bosch's auto parts division planned to cut around 22,000 jobs in the coming years.