Bosch to Reduce Working Hours for 10,000 Employees in Germany

A spokesperson confirmed on Saturday, citing a report by the dpa news agency, that employees at various Bosch sites in Germany, who are primarily on 38- or 40-hour contracts, will see their working hours reduced to 35 hours. The German car industry slowdown has also impacted Volkswagen (VOWG_p.DE), which is embroiled in an escalating dispute with workers over plans to close plants in Germany, and Mercedes (MBGn.DE), which has pledged to implement stricter cost-cutting measures.