Bosch is a major supplier in the automotive industry. The German company supplies the industry with many different components, including complete systems, such as ABS, spark plugs, lighting components, etc. Recently the Bosch annouinced that it would cull over 13 000 jobs quite urgently, in order to remain competitive in the market.
Such a move has been caused by several factors, including the higher costs of doing business with countries like the United States of America, as well as the incessant proliferation of cheaper components from the far East, among others. These new cuts are in addition to cuts announced earlier of 9 000 jobs, bringing the total to a massive 22 000. Affected mainly will be the German Plants. Bosch aims to save around R47 billion per year with these layoffs.