WORLD NEWS FOR MONTENEGRO DIASPORA
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AUTHOR:M.J. GDNUS
German automotive equipment company Bosch said today it plans to cut 1,100 jobs by 2029, continuing its restructuring program amid ongoing difficulties in the European automotive industry.
The company cited increased competition, price pressure and falling sales, particularly as some customers switch to electric vehicles.
Bosch will reorganize its main plant in Reutlingen, where the production of control units is no longer competitive, to focus on semiconductor production.
The group currently employs 418,000 people worldwide.
