BERLIN (Reuters) – The chairman of German auto parts supplier Robert Bosch warned on Thursday of declining revenue inside the coming yr, and talked about he can’t rule out extra job cuts in Germany together with the 7,000 it has already launched.
The announcement, made in an interview with chairman Stefan Hartung printed by Der Tagesspiegel newspaper on Thursday, gives to the gathering gloom inside the auto commerce that underpins Europe’s largest financial system.
Income at Volkswagen (ETR:) plunged to a three-year low inside the third quarter, Europe’s largest carmaker talked about on Wednesday, and employees are threatening to strike over VW’s plans to lower costs by closing vegetation in Germany and lowering pay.
Hartung talked about Bosch’s turnover would can be found barely beneath ultimate yr’s 92 billion euros, whereas return on product sales, which it had wanted to develop by two proportion components better than ultimate yr’s 5%, would can be found at 4% at most, he talked about.
“I can’t rule out that we should always extra modify personnel capacities,” Hartung talked about, calling on the federal authorities to do further to help commerce.
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