German automotive parts supplier Omowei announced a global layoff of up to 4,000 people.

German automotive software and hardware solutions provider EOM Automotive Group announced on January 28th that they plan to lay off up to 4,000 employees globally, affecting factories in India, Singapore, Romania, Serbia, Germany, and Mexico. The layoffs are expected to be mostly completed by the end of this year, and the company plans to carry out the layoffs in a responsible manner. The statement said that in a challenging market environment, EOM will introduce more measures to enhance the competitiveness of its global research and development activities.