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Old 09-15-2009, 02:17 PM   #1
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Default Bosch to cut 10,000 jobs this year

FRANKFURT (Reuters) -- Robert Bosch expects to cut 10,000 jobs this year and keep 100,000 more staff on short working hours amid an auto industry slump that could last for years, CEO Franz Fehrenbach said.

The world's biggest automotive supplier will post a deep loss this year, with group revenue down around 15 percent to 38 billion euros ($55.61 billion) and vehicle technology revenue down as much as a fifth, he said in remarks prepared for delivery at the Frankfurt Motor Show.

It will employ around 270,000 staff after the cuts.
Bosch spokeswoman Cheryl Kilborn in suburban Detroit, said most of the job cuts have already taken place. She also said the cuts are not focused on any one country, but are global.
Fehrenbach said he was seeing "the first signs of a recovery" and that group sales revenue was set to rise in the fourth quarter after a long dry patch. It also makes industrial and household goods.

Still, Bosch was unlikely to see a quick rebound in its capacity utilization rates, he added.

"Overall it could take until 2012 until we reach the pre-recession level of 2007 again," he said.

Robert Bosch ranks No. 1 on the Automotive News list of the top 100 global suppliers with estimated worldwide sales to automakers of $33.90 billion in 2008
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Old 09-15-2009, 02:32 PM   #2
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That sucks, but as a side note, I never realized Bosch was that big. Even after the cuts they'll still have 270K employees!?!
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Old 09-15-2009, 02:33 PM   #3
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I had no clue bosch was that big either, wow
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Old 09-16-2009, 07:16 AM   #4
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they make household appliances, tools, industrial equipment and have several brand names you’ve probably heard of and use daily.
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