Bosch wants to eliminate 5,550 jobs worldwide – and warns that production will stagnate

Bosch, the world leader in automotive equipment, announced this Friday that it plans to eliminate 5,550 jobs worldwide, mainly in Germany, due to difficulties in the new vehicle market.

A Bosch reported, this Friday, that by 2030 it should eliminate 5,550 jobs.

The world leader in automotive equipment also reported that the vehicle production will stagnate.

“World vehicle production will stagnate this year at around 93 million units, it may even decrease compared to the previous year”, explained the German group in a statement, cited by the Lusa agency.

In Europe, “the activity sector competes with suppliers who, due to their production in countries where the cost structure is lower, have clear advantages”, added the German group.

The announcement was made at a time when the automobile industry records:

• one decrease in demand;
• transition delays for electric vehicles;
• oneincreased competition from Chinese manufacturers.

Bosch had already announced several job cuts across the world in recent months, affecting around 7,000 jobs in totalparticularly in the automotive division, from which it obtains almost two thirds of its revenue, but also in the tools and household appliances sectors.

Of the jobs most affected by the new cuts, 3,850 will be in Germanynamely at the factories of Hildesheim (north) and Schwäbisch Gmünd (south).