Bosch to reduce headcount by more than 800 in Hungary
German engineering giant Bosch will terminate contracts with more than 800 workers at its automotive electronics plant in Hatvan (56 km east of Budapest), the communications director for the group in Hungary told state news wire MTI.
Teodóra Bodó said Bosch will lay off 700 contracted laborers by the end of April and at most 130 indirect laborers by year-end.
The decision was taken because of a significant drop in global automotive industry orders and a paradigm shift in mobility technologies, she said. Projections point to a slow recovery of the sector after the crisis, she added.
About 6,000 people work at the Bosch base in Hatvan.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.