FRANKFURT - Bosch , the world's largest automotive supplier, on Thursday warned of further cost cuts and staff reductions , forecasting stagnating vehicle production that will keep a lid on profit margins in 2024.
He said any cuts would be put in place "with a sense of proportion", not elaborating how many of the group's 429,416 employees would be affected.For 2024, Bosch expects revenues to grow by 5%-7%, compared with an increase of 3.8% last year. Its margin on earnings before interest and tax from operations will remain stable at best compared with the 5.3% generated in 2023.
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OTTAWA — Canada's wealthiest individuals and corporations will soon pay taxes on a larger share of the capital gains they earn, a change that economists say will make the tax system more efficient, despite pushback from business groups. The federal budget presented Tuesday proposes taxing two-thirds rather than one-half of capital gains — which refers to profit made on the sale of assets.
Process Improvements Bosch Forschner Staff Reductions
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