Robert Bosch has reduced working hours at almost 1, 800 German employees due to weak demand for building and industrial technology.
The measures were taken at the beginning of June and affected around 1.5% of Bosch’s employees in Germany. The employees working hours have been cut and workers have been asked to use up accrued overtime. The supplier’s Energy and Building Technology business manufactures products such as water heaters and security systems, while the Industrial Technology business provides control and drive technology.
In March Robert Bosch announced it will sell or close its solar energy operations, which made the company lose 2.4 billion euro until now. Since 2008, when Bosch created the solar energy unit, the company lost 2.4 billion euro ($3.10 billion), from which 1 billion euro was lost in 2012.
This is another blow for the solar energy industry in Germany, after Q-Cells filed for insolvency in 2012 and SolarWorld and Conergy are in debt restructuring talks.
“This is possibly the most painful experience that I have had to endure in my professional career,” said Chairman Franz Fehrenbach in a statement.
At the end of March, the company announced that its head of automotive division, Bernd Bohr is leaving Bosch on his own accord, as he aims at pursuing personal interests, which include a range of advisory and supervisory-board activities.