BERLIN (Reuters) – Robert bosch (NS:), the world's largest supplier of auto parts, will reduce working hours and salaries for around 10,000 employees in Germany, going beyond previously announced reductions and on top of thousands of job cuts announced on Friday.
In the latest sign of the challenges facing the German 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 operating hours. work of 450 employees.
Staff, mostly on 38- or 40-hour contracts at plants across Germany, will see their hours reduced to 35 hours, a spokesperson said on Saturday, confirming a report by the dpa news agency.
The slowdown in the German auto sector has also rattled Volkswagen (ETR:), which is in a growing dispute with workers over plans to close plants in Germany, and Mercedes, which has promised to make stricter cost cuts.
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