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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.