Technology Company Bosch Will Cut Another Thirteen Thousand German Jobs by 2030. This is due to problems in the automotive industry, Such as Competition from China and Less Demand for Parts Due to the Growth of Electric Cars.
About 10 percent of all German staff will now have to look for a new job.
The Layoffs Mainly Affect The Automotive Parts Division with Locations in Stuttgart-Feuerbach, Schwieberingen, Bühl, Waiblingen and Homburg. Staff will also be laid off at the head office in Gerlingen and at subsidiaries, The Company Said in a Statement.
Bosch, Like Other German suppliers or car parts, is struggling with Chinese competition. The Company also Sells Fewer Parts to European Car Manufacturers. MoreOover, Electric Cars Need Fewer Parts Than Cars With A Combustion Engine.
The German Technology Company Hopes to Save around 2.5 Billion Euros by 2030 with the Large Rounds of Layoffs. Accordance to Human Resources Director Stefan Grosch, A New Reorganization is Therefore Unavoidable. The Wants To Quickly Make Agreements About Compensation for the Affected Employees.
The German Concern, which also makes Air Conditioners and Washing Machines, Already Parted with 11,500 Employees Last Year. At the beginning of this year, that turned out not to be enough to compensate for the losses. There are currently approxroximately 418,000 people employed.