Germany's Bosch announced plans to cut jobs. The well-known auto parts manufacturer had initially envisaged smaller job cuts, but it has now been confirmed that approximately 5,500 jobs will be cut. position. His works council opposes this solution. However, the company is determined to implement this plan by the end of 2027.
A Bosch spokesperson stressed that the job cuts will be “implemented in a socially responsible manner.” The estimated number of planned job cuts is only a preliminary figure and is subject to change following anticipated negotiations with employee representatives.
Germany. Bosch plans mass layoffs
The largest job cuts are expected to occur in the company's Cross-Domain Computing Solutions division, which handles driver assistance systems and autonomous driving solutions.
One of the reasons for Bosch's decision to make mass layoffs is the reduced demand for intelligent systems and control units. The economic situation in the above sectors is already very tense and is gradually worsening.
As a result, the division employs far more employees than it actually needs, and the company claims that “further personnel and structural adjustments are required to ensure competitiveness.” There is.
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The company has already cut thousands of jobs in recent months, but it's unclear whether it will meet its annual goals.
As if that wasn't enough, Bosch also planned to reduce working hours. Starting March 1, the company's 450 employees will only work 35 hours a week.
Germany's auto industry in crisis
Germany's car industry is in deep crisis due to worsening economic conditions and declining interest in electric cars.
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Ford and Volkswagen also announced job cuts. The former plans to cut about 3,000 jobs within three years, while the latter is also closing factories and cutting wages.
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