Bosch To Cut Working Hours, Salaries, And 5,500 Jobs Amid Auto Parts Demand Slump : Reports

(RTTNews) - Robert Bosch GmbH will reduce working hours and salaries for approximately 10,000 employees as part of a broader strategy to address a downturn in demand for automotive parts, according to media reports.

The reports quoted the company's spokeswoman, who said that affected employees will have their weekly hours reduced from 38 or 40 to 35, resulting in a salary reduction of approximately 12.5%. These changes are set to take effect in March at Bosch's headquarters in Gerlingen, Germany, with similar adjustments planned for its facilities in Schwaebisch-Gmuend and Schwieberdingen.

In addition to the working-hour reductions, Bosch plans to eliminate 5,500 jobs globally, with 3,800 positions in Germany, as the challenges facing the automotive sector continue to impact the supply chain.