Bosch Lays Off a Thousands Jobs amid Declined Sale in Automotive Industry

Bosch Ltd in India plans to slash thousands of jobs in 4 years regarding the worst sales in decades. Thousands will be cut in the Indian hub said by Soumitra Bhattacharya, the India Managing Director.

In the following years the auto industry tends to lay off about 80,000 jobs in the midst of deducing demand.

In 2019, the Indian Bosch Ltd profit dropped 66% in the third quarter and also the share price fell 22%. However, the company expects to recover its sales by the next few years and they predict that by 2030, 20% of vehicles in India will turn to electric.  

As for the Thai automotive industry, the data had shown a sign of slowdown in the industry with a plummet of 4.21% in production in the first 10 months of 2019 when compared to the same period in 2018. 

Analyst stated that the negative outlook on the world’s economy had made the Bank of Thailand (BOT) worried of NPL which reflected on a tighten loan regulation from commercial banks which, later, slowed down consumption rate.

However, the industry had a better look when compared to the world’s automotive industry which reported an average decline of 5.7%. Meanwhile, there has yet to be any motor manufacturers announced a shutdown in Thailand, but some OEM manufacturers had filed bankruptcy already.