NORTH CHARLESTON, S.C. (WCBD) – BOSCH has announced plans to lay off hundreds of workers at its facility in North Charleston.
In an email to News 2, BOSCH said companies around the world are experiencing the impact of a transforming automotive industry, which they say is the effect of a “difficult economic situation.”
This year, Bosch estimates global automotive production volume will be reduced by ten percent compared to 2017, down to some 88.9 million vehicles. “Therefore, the automotive industry has to take structural adjustments, and so does Bosch,” a company spokesperson said.
The company said it is examining strategies to rebalance production across its international production network to better align with global demand and to strengthen its competitiveness.
“As a result, the company plans to eliminate production of diesel powertrain components at its manufacturing facility in Charleston, South Carolina,” the company said. “In parallel, the Charleston site will secure additional manufacturing business for powertrain electrification, an area of future growth for the company.”
The reduction will result in the loss of approximately 340 Bosch jobs, and an estimated 90 temporary positions. The reductions are planned to be implemented in phases, likely beginning in mid-2020 and continuing through 2021.
Bosch associates who are impacted by a workforce reduction will have the opportunity to apply for positions at other Bosch facilities. In the case a suitable position is not identified, those associates will be offered a competitive severance package and support to help transition to new opportunities.
Bosch opened its facility in Charleston in 1974 and manufactures products for powertrain and chassis systems.