London CNN —Thousands of jobs are on the chopping block at German industrial giant Bosch in yet another blow to the country’s beleaguered economy. A spokesperson for the company told CNN Wednesday that it plans to cut around 8,250 jobs globally over the coming years. It is important for us to remain competitive under these conditions,” Bosch said in a statement. A worker assembles heat pumps for residential buildings at a Bosch factory in April 2023 in Eschenburg, Germany. Last week, tens of thousands of workers at Volkswagen, Germany’s largest manufacturer, took part in strikes at plants across the country.

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Persons: ” Bosch, Sascha Schuermann, Olesya Dmitracova Organizations: London CNN, Bosch, CNN, Volkswagen, European, European Commission Locations: Eschenburg, Germany, Ukraine, Asia