Bosch Joins Other Auto Suppliers in Cutting Jobs
Auto parts supplier Robert Bosch will be cutting 5,500 jobs across its operations, reports CBT News.
The bulk of cuts will be to Bosch’s cross-domain computing solutions division, with 3,500 positions to be cut by 2027. Another 750 jobs will be eliminated at Bosch’s electric-motor plant in Hildesheim, Germany, by 2032, and another 1,300 from its steering division between 2027 and 2030.
Reasons for the cuts include overcapacity in the auto industry, as well as lackluster car sales and high competition.
“The auto sector has significant overcapacity,” Bosch described.
The news follows recent moves by suppliers such as Michelin and Schaeffler to close factories and cut jobs in Europe. Most recently, Swedish battery maker Northvolt has also filed for bankruptcy as it struggles with rapid growth.
Related
Nearly 100 jobs coming to Lexington as part of nearly…
The Lexington County Council paved the way for Cardiff Products USA to build new facility. COLUMBIA, S.C. — At the Saxe Gotha Industrial
TikTok tells US employees they’ll still have jobs even if…
TikTok told its US employees that they'd still have jobs if the app goes dark.The company reassured staffers that the leade
1 in 5 job postings aren’t real, recent study finds
What will a Trump economy look like? Rhett Buttle of Public Private Strategies speaks with Andrew Craft about what a Trump economy may look like. President-el
Beware of “Ghost Jobs” – Don’t waste your time
What are 'ghost jobs'? Trend of fake job postings FOX 26 Business Reporter Tom Zizka looks into the troubling trend of fake job posts that some job seekers ar
