Germany: Bosch to cut 5,000 jobs with car industry in crIsis. The car parts manufacturer said some 3,800 of the layoffs are to be made in Germany. Bosch and other German firms are pushing to reduce costs in order to stay competitive in the international market.

German engineering and technology giant Bosch plans to cut thousands of jobs to reduce costsImage: Alicia Windzio/dpa/picture alliance

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BOSCH logo on factory in Hildesheim, Lower Saxony
German engineering and technology giant Bosch plans to cut thousands of jobs to reduce costsImage: Alicia Windzio/dpa/picture alliance
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German automotive supplier plans to lay off 5,000 employees, a spokeswoman said on Friday.

The planned job cuts come as German auto companies push to reduce costs in order to stay competitive in the international market.

What do we know about the job cuts at Bosch?
Bosch’s spokeswoman said that some 3,800 of the job cuts are to be made in Germany.

She added that the exact number of layoffs will be negotiated in talks with workers’ representatives.

In a separate statement, the company said it was having to make significant investments in new technologies.

“We must adapt our structures to the changing market environment and reduce costs sustainably to strengthen our competitiveness,” Bosch manager Stephan Hölzl said.

The firm also pointed to overall stagnation in the market.

“Global vehicle production will stagnate this year at around 93 million units, if not decline slightly compared to the previous year,” Bosch said.

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