Bosch to Cut Working Hours for 10,000 Workers in Germany

Foreks - The world's largest automotive parts supplier, Robert Bosch, will go beyond the previously announced reductions and, in addition to the thousands of layoffs announced on Friday, will cut the working hours and wages of approximately 10,000 employees in Germany.

As a sign of the challenges faced by Germany's automotive sector due to weak demand and competition from cheaper Chinese rivals, Bosch announced one day after stating it would reduce the working hours of 450 staff that it would lay off 5,550 employees.

A spokesperson, confirming the report from the dpa news agency, stated on Saturday that the working hours of personnel across facilities in Germany, who mostly work under contracts of 38 or 40 hours, will be reduced to 35 hours.