Bosch to cut hours for 10,000 workers in Germany

Published 11/23/2024, 10:40 AM
Updated 11/23/2024, 10:45 AM
© Reuters. FILE PHOTO: Bosch logo is seen on a bike during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay/File Photo
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BERLIN (Reuters) - Robert Bosch (NS:BOSH), the world's largest car parts supplier, will reduce the working hours and pay of around 10,000 employees in Germany, going beyond previously announced reductions and in addition to thousands of job cuts announced on Friday.

In the latest sign of the challenges facing Germany's auto sector due to weak demand and competition from cheaper Chinese rivals, Bosch had said on Friday it would cut up to 5,550 jobs, a day after saying it would cut the working hours of 450 staff.

© Reuters. FILE PHOTO: Bosch logo is seen on a bike during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay/File Photo

Staff mostly on 38- or 40-hour contracts at sites around Germany will have their hours reduced to 35 hours, a spokesperson said on Saturday, confirming a report by dpa news agency.

The slowdown in the German car sector has also shaken Volkswagen (ETR:VOWG_p), which is in an escalating dispute with workers over plans to close plants in Germany, and Mercedes, which has vowed to make tougher cost cuts.

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