German industrial giant Bosch said Thursday it would cut 13,000 jobs, mostly in its auto unit, in the latest blow for the country's ailing car sector.

The auto industry in Europe's biggest economy has been hammered by fierce competition in key market China, weak demand and a slower than expected shift to electric vehicles.

The cuts, all of which will take place in Germany, represent about 10 percent of Bosch's total workforce in the country, and three percent of its staff worldwide.

Bosch -- the world's biggest auto supplier, making everything from braking and steering systems to sensors -- said the layoffs were needed to help make annual savings of 2.5 billion euros ($2.9 billion) in the group's car unit.

"Demand for our products is shifting significantly to regions outside Europe," s

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