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Bosch announced to cut down its thousands of employees in India

World’s largest auto-parts supplier company has announced, it’s plan to join it’s parent company Robert Bosch GmbH, therefore they are planning to cut down their employment in South Asian nations, due to the worst slowdown of of sales in decades.
The company has announced ” a couple of thousands” of jobs cut down in next four years.India Managing Director Soumitra Bhattacharya said, “about 10% of 3,700 white-collar jobs and a slightly higher percentage of 6,300 blue-collar jobs will be cut, he added in an interview in Bangalore on Dec. 30.”
“There is a transformation happening across the industry,” Bhattacharya said. “We looked at that as an opportunity to transform the company even before the downturn started.”
Carmakers across the world will shed 80,000 jobs in the coming years amid shrinking demand. That will hit sales at autopart makers. In India, Bosch expects auto sales to only recover in the next two-three years after plummeting in 2019 because of regulatory changes, threat of electrification, a liquidity crunch and an economic slowdown.
India’s auto sector is going through a cyclical and structural changes because of electrification, technological shift and the advent of shared mobility, Bhattacharya said

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