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Voxpress:
The German giant cuts thousands of jobs, lowers wages
2024-11-23 19:48:39Biznes
SHKRUAR NGA REDAKSIA VOX
Bosch
Robert Bosch, the world's largest auto parts supplier, will reduce the hours and pay of around 10,000 employees in Germany, going beyond previously announced cuts and in addition to the thousands of job cuts announced on Friday.
In the latest sign of challenges facing Germany's auto sector due to weak demand and competition from cheaper Chinese rivals, Bosch had said on Friday it would cut up to 5,550 jobs, a day after it said it would cut work hours for 450 employees.
Staff mostly on 38- or 40-hour contracts in countries around Germany will be reduced to 35 hours, a spokesman said on Saturday, confirming a report by the dpa news agency.
The slowdown in the German auto sector has also shaken Volkswagen, which is in an escalating dispute with workers over plans to close factories in Germany, and Mercedes, which has vowed to make tougher cost cuts.
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