Bosch lays off employees in China

Sources within Bosch China have revealed that the company has begun layoffs, affecting nearly 200 employees. The hardest-hit areas are Bosch's gasoline-powered vehicle project and hydrogen fuel cell project in Wuxi. Another employee confirmed the layoffs but stated that the company's compensation package is relatively generous: "These waves of layoffs are all economical, with all employees receiving N+4 compensation."