This time, we can say, it is the entire automotive equipment supplier sector which is affected by a terrible crisis in Europe. How else can we put it after the industrial Bosch, the world leader in automotive equipment manufacturers, confirmed this Friday that it was planning 5,550 new job cuts worldwide.
Germany, again…
A clear cut in the workforce of Bosch’s automotive division, which will mainly take place by 2030, will mainly affect Germany, with 3,850 employees working in factories in Hildesheim (north) and Schwäbisch Gmünd (south). “Global vehicle production will stagnate this year at around 93 million units, or even decline slightly compared to the previous year.tried to justify the German group in a press release.
Terrible competition
Thousands of jobs lost, always for the same factors, a triptych which is spreading like wildfire among European equipment manufacturers: a drop in demand, delay in the transition to electric and increased competition from Chinese manufacturers. On the Old Continent, “the business sector competes with suppliers who, due to their production in countries with a lower cost structure, have clear advantages”added Bosch.
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