Monday, November 3, 2008

European Plants Hit Too

Europe automotive industries are also in a crunch. Bosch announced measures to deal with reduced orders in Europe.
Some 3,500 workers at the Bamberg plant will start working reduced hours on Friday, with the measure set to last six months. The workers affected produce diesel engine components.
Bosch's move comes as the global financial crisis weighs heavily on the auto industry. In recent weeks, automakers such as BMW AG, Daimler AG and General Motors Corp. subsidiary Adam Opel AG, among other automakers in Europe, have announced production cuts.

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