
Bosch Layoffs: German autoparts maker to cut 1,100 jobs; assembly line and back-office roles at risk
Advertisement
This layoff will affect people who are involved in the site's assembly line as well as in back-office roles, reported the news agency, citing the German autoparts maker.
'The European market for steering systems is driven by price and hard fought with new suppliers,' said Bosch's electronics chief, Dirk Kress, amid the rising competition from the Chinese manufacturers in recent years. German car manufacturers have been struggling with this issue in recent times as the Asian nation contests for market share.
'The required cuts are not easy, but they are essential to secure the future of the site,' he said, according to the news agency's report.
Losing the 'competitive' edge
According to the agency report citing the autoparts maker, steering system sales were declining partly due to the sluggish uptake of electric vehicles.
Advertisement
Also Read | Stocks to buy under ₹100: Experts recommend two shares to buy tomorrow
'Manufacturing steering systems at the Reutlingen site is no longer competitive,' said Bosch, highlighting that the plant would now focus on manufacturing semiconductors.
However, the company did not say whether the job cuts would involve compulsory redundancies or rely on voluntary measures such as early retirement.
Other automotive suppliers like Schaeffler and Continental have made layoffs in the past year, while sports car maker Porsche last Friday warned workers of a 'serious situation' amid collapsing demand in China. In November 2024, Bosch also announced a 5,500-employee layoff across the company, according to the agency report.
Bosch is a listed company in the Indian stock market, and the shares closed 1.37% lower at ₹37,750 after Tuesday's stock market session, compared to ₹38,320 at the previous market close.
Advertisement
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of Mint. We advise investors to check with certified experts before making any investment decisions.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
21 minutes ago
- Mint
Nuvama sees 40% upside in THIS multibagger stock. Should you buy?
Multibagger stock: Brokerage firm Nuvama has initiated coverage on AGI Infra with a 'buy' recommendation due to ongoing and upcoming projects, anticipated high cash flows, and increasing demand for residential property. Shares of the construction company closed 1.29 per cent higher at ₹ 1,066.9 on the BSE index after Friday's stock market session, compared to ₹ 1.053.35 at the previous market close. 'We initiate coverage with a 'BUY' rating and a TP of INR1,448, valuing the stock at 1x FY26E NAV. AGI Infra (AGIIL) is among the few reputed real estate players in Punjab, with a dominant presence in Jalandhar, aided by a strong track record of well-received, high-quality projects,' Nuvama said. Operating in a market with limited branded competition, it has built a presence and is expanding into high-demand markets throughout Punjab. With a solid project pipeline and a large, well-situated land bank, it is estimated to benefit from Punjab's rising housing demand, according to the brokerage firm. Nuvama further expects that the ongoing and upcoming residential projects will generate a gross cash flow of ₹ 8,282 crore and a net cash flow of ₹ 2,060 crore. It has been recommended to buy with a target price of ₹ 1,448, an upside of 36%. AGIIL is a Punjab-based real estate developer with presence in cities such as Jalandhar, Ludhiana, Chandigarh, and Mohali. It has delivered over 10 projects. Primarily focused on residential real estate, it is also engaged in the commercial sector. Currently, it has 10 ongoing projects with a total saleable area of 11.32 million square feet, of which 4.98 million square feet remains available for sale. For the financial year ended on March 31, 2025, the company reported a net profit of ₹ 67 crore, compared to ₹ 52 crore posted in the previous year. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.


Indian Express
an hour ago
- Indian Express
India unlikely to import US genetically modified agricultural items under trade deal: Sources
During the ongoing trade negotiations, India is unlikely to agree to US demands to accept genetically modified (GM) agricultural products such as corn and soya, a source closely monitoring the talks has indicated. 'Some things are matters of principle. We can't import GM,' the source said in response to a query over the government's position on GM imports from the US. This assumes significance since agriculture remains one of the contentious issues between the two countries, and the United States Trade Representative (USTR) has previously flagged restrictions on its GM products by countries as discriminatory. 'The Food Safety and Standards Act of 2006 includes specific provisions for regulating food products derived from genetically engineered (GE) sources; however, as of December 31, 2024, the FSSAI was still in the process of establishing its regulations. India's biotechnology approval processes are slow, opaque, and subject to political influences, and do not appear to take into account science-based approval processes for GE products in exporting countries,' the USTR report had said. While India is seeking greater market access for its textiles, leather and footwear, the US is pushing for access to India's agricultural and dairy markets — a major hurdle, as Indian farmers often operate on small land parcels with limited technological support. In contrast, the US has demanded that India should drop its GM regulation. There is significant resistance to genetically modified (GM) crops in India. Only one GM crop — Bt cotton — is approved for cultivation. No GM food crop is commercially grown, although experimental trials continue. However, imports of GM soybean oil and canola oil are permitted. A 2013 report by the European Network of Scientists for Social and Environmental Responsibility (ENSSER) emphasised that many studies deeming GM foods safe were industry-funded, and that long‑term, independent studies were lacking. New Delhi‑based think tank GTRI said: 'Environmental studies have shown that widespread use of Bt crops can lead to pest resistance, such as in the pink bollworm, and pose risks to non‑target species such as monarch butterflies, as suggested in a 1999 Nature study. Additionally, the overuse of glyphosate with herbicide-tolerant GM crops has led to 'superweeds' and increased herbicide use.' The GTRI said that GM and non‑GM crops may intermingle at various stages of the supply chain — during transport, storage or processing. 'Once GM material enters, there is a high risk it could leak into local farming systems or processed food chains, posing risks to food safety, environmental integrity, and India's export reputation — especially in GM‑sensitive markets such as the EU,' the think tank warned. It said the import of GM products, such as animal feed, could negatively affect India's agricultural exports to the EU, which enforces strict GM-labelling rules and faces strong consumer opposition to GM‑linked products. Although GM feed is permitted, many European buyers prefer fully GM‑free supply chains. India's fragmented agri‑logistics and lack of segregation infrastructure increase the likelihood of cross‑contamination and trace GM presence in export consignments. This could result in shipment rejections, higher testing costs, and erosion of India's GM‑free image, particularly in sectors such as rice, tea, honey, spices and organic foods, the GTRI said. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More


Time of India
an hour ago
- Time of India
Rare earth supply risk: Indian electronics firms worried as Chinese curbs may hit; but can Beijing also afford this?
This is an AI-generated image, used for representational purposes only. A number of applicants under India's Electronics Component Manufacturing Scheme (ECMS) have flagged concerns over meeting their first-year production targets due to ongoing shortages of rare earth minerals. According to ET, at least 10 companies have raised the issue with the ministry of electronics and information technology (MeitY), warning that if the shortage continues for another six months, they may not be able to meet the incentive-linked thresholds. The rare earth scarcity stems from export restrictions imposed by China, which controls more than 90% of global rare earth processing. China introduced special licensing requirements for seven rare earth elements and associated magnets from April 4 this year, leading to supply disruptions across key industries. These include electronics, automobiles, and clean energy technologies. "Companies have expressed concern, but within the sector, it isn't an alarming outcry," an official aware of the matter was quoted as saying by ET. 'If there is a component that uses rare earth, instead of importing that rare earth and making that component in India, they will simply import that component.' While firms are exploring alternatives, such as sourcing from different suppliers or shifting to rare-earth-free technologies, the timing has been challenging, particularly for those scaling up manufacturing for exports. 'The ECMS has been unveiled at a time when many entities want to scale up and take advantage of exports,' said Ashok Chandak, president of the India Electronics and Semiconductor Association (IESA), as quoted by ET. He added that supply shocks in rare earth magnets have hit the sector hard. The Rs 22,919 crore ECMS, launched in May, seeks to build a robust domestic ecosystem for electronic components like multi-layer PCBs, lithium-ion cells, resistors, capacitors, display and camera modules. PCBs have attracted particular attention from applicants, according to KS Babu, secretary of the Indian Printed Circuit Association (IPCA), who noted that the scheme addresses both multi-layer and high-density interconnect boards. However, he also pointed out that local production of key inputs like copper-clad laminates is still missing. 'Chinese suppliers are now taking advantage by squeezing prices, citing problems with shipments,' Babu said, as per ET. The scheme, effective from FY26 through FY32, includes a one-year gestation period. However, manufacturers, particularly MSMEs, have sought quicker access to incentives to recover their investments. A Delhi-based PCB maker was cited by ET saying that the government has informally assured leniency during the verification and claims process. Responding to industry requests, MeitY will extend the ECMS application window beyond July 31, as confirmed by officials. Many small firms are still finalising their sourcing channels, joint ventures, and tech partnerships. In a written reply to the Rajya Sabha, minister of state for commerce and industry Jitin Prasada noted that the export restrictions on rare earth magnets have led to supply chain bottlenecks for auto and electronics sectors. However, the ministry has not received specific reports of cost escalation or project delays from industry hubs in Maharashtra, as per news agency PTI. Despite the disruption, industry leaders remain hopeful. 'China also can't afford to continue an export ban for long, since their companies will begin bleeding and it will place a long term strain on their relations with many countries,' Chandak said, as per ET. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now