"We must adapt our structures to the changing market environment and reduce costs sustainably to strengthen our competitiveness," Bosch manager Stephan Holzl said, indicating the strategic need for restructuring.
The head of the workers' council for Bosch's automotive division in Germany, Frank Sell, called the planned layoffs a 'slap in the face' and vowed resistance to the move, emphasizing labor's concerns.
Bosch revealed that some 3,800 of the job cuts are to be made in Germany as part of an initiative to streamline operations amid a stagnating global vehicle production, forecasted to plateau at 93 million units.
In the electric vehicle sector, manufacturers now require significantly fewer parts for production, rendering the processes less labor-intensive, further necessitating workforce reductions in Bosch's automotive division.
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