BERLIN (Reuters) – The chairman of German auto elements provider Robert Bosch warned on Thursday of declining income within the coming yr, and mentioned he can not rule out additional job cuts in Germany along with the 7,000 it has already introduced.
The announcement, made in an interview with chairman Stefan Hartung printed by Der Tagesspiegel newspaper on Thursday, provides to the gathering gloom within the auto trade that underpins Europe’s largest economic system.
Revenue at Volkswagen (ETR:) plunged to a three-year low within the third quarter, Europe’s largest carmaker mentioned on Wednesday, and staff are threatening to strike over VW’s plans to decrease prices by closing vegetation in Germany and reducing pay.
Hartung mentioned Bosch’s turnover would are available barely under final yr’s 92 billion euros, whereas return on gross sales, which it had needed to develop by two proportion factors greater than final yr’s 5%, would are available at 4% at most, he mentioned.
“I can not rule out that we should additional modify personnel capacities,” Hartung mentioned, calling on the federal government to do extra to assist trade.
