Bosch will implement a reduction in working hours for 450 employees, cutting their hours from 38-40 a week to 35, citing a difficult economic situation.
Faced with falling demand and pressure from Chinese competitors, Bosch's decision highlights the strain on the automotive sector, exacerbated by broader economic challenges.
Bosch's chairman, Stefan Hartung, indicated that the company would not meet its financial targets for 2024, leading to potential personnel reductions and layoffs.
As European automakers like Volkswagen grapple with cost-cutting measures, Bosch's action reflects a trend of reducing working hours to manage operational challenges.
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