BloombergBosch Ltd, the Indian unit of the world’s largest auto parts supplier, plans to join its parent, Robert Bosch GmbH in cutting jobs as the nation witnesses one of its worst auto sales slowdowns in decades. The German company would cut “a couple of thousand” jobs in India over the next four years, India managing director Soumitra Bhattacharya said. “There is a transformation happening across the industry,” Bhattacharya said. In India, Bosch expects auto sales to only recover over the next two to three years after plummeting this year due to regulatory changes, threat of electrification, a liquidity crunch and an economic slowdown. Still, the German component maker sees the demand for internal combustion engine (ICE) vehicles leading growth in the auto industry in India.
