Bosch, a German multinational engineering and technology company, is likely to lay off a couple of thousand jobs in India in the next four years. The layoffs include about 10 percent of 3,700 white-collar jobs and a slightly higher percentage of 6,300 blue-collar jobs will be shed.
In a statement, Soumitra Bhattacharya, India Managing Director, Bosch said, “There is a transformation happening across the industry. We looked at that as an opportunity to transform the company even before the downturn started.”
Bosch Ltd, the Indian unit of the world’s largest auto-parts supplier, is reported to join its parent, Robert Bosch GmbH in cutting jobs in the country.
As per a Bloomberg report, “This comes amid various other companies, both domestic and international ones, announcing similar move as the South Asian nation witnessed one of its worst auto sales slowdowns in decades.”