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Bad news on the Old Continent. German company Bosch, the world’s leading automotive supplier, has just announced upcoming cuts of 13,000 jobs. The company says it is facing a slower-than-expected transition to electric vehicles. |
A Large-Scale Social Plan at the Automotive Supplier
Bosch, the German automotive equipment giant, is announcing a major job cut plan. No fewer than 13,000 positions are affected worldwide. This drastic decision comes in a context of a slowdown in the automotive market.
The Electric Transition Blamed
Bosch’s management justifies these job cuts by a transition to electric vehicles that is slower than initial forecasts. The adoption of electric cars by the general public is not keeping pace with the industry’s expectations, forcing suppliers to revise their strategies.
A Major Impact on Industrial Employment
These 13,000 job cuts represent a hard blow to the European industrial sector. Bosch, as the world’s leading supplier, is a key player whose decisions have repercussions throughout the automotive value chain.
Necessary Adaptation to New Market Realities
The company must adapt to a demand for electric vehicles that is growing, but at an insufficient pace to maintain its current workforce. This restructuring reflects the difficulties of the entire sector in managing this period of technological transition.