Bosch will cut hours and pay 10,000 employees

Robert Bosch GmbH will cut the working hours of about 10,000 employees, in addition to massive job cuts the company is making to counter falling demand for auto parts.

The affected employees’ workweek will be reduced to 35 hours from 38 or 40, resulting in a pay cut of about 12.5%, a spokeswoman said on Saturday. The measures will be introduced from March at the company’s headquarters in Gerlingen, Germany, with similar measures planned for sites in Schwäbisch Gmünd and Schwieberdingen, she said.