Bosch to Cut 5,500 Jobs Amid Auto Industry Challenges and Transition to EVs

Industry Industry for Bosch

Posted by pallavi on 2024-11-29 06:37:37 |

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Bosch has announced plans to cut approximately 5,500 jobs in the coming years, primarily in its automotive division, due to ongoing challenges in the auto industry. The company cited stagnant global auto sales, excess factory capacity, and a slower-than-expected transition to electric and software-controlled vehicles as the main factors behind the layoffs. Of the planned cuts, around 3,500 jobs will be eliminated by the end of 2027, impacting areas like advanced driver assistance, automated driving technologies, and centralized vehicle software. Half of these layoffs will occur in Germany. Additionally, Bosch will reduce 750 jobs at its Hildesheim plant by 2032 and 600 jobs by 2026. Around 1,300 jobs will be affected at the Schwaebisch Gmund plant between 2027 and 2030. While the job cuts are still in the planning stage, Bosch has stated that the final decisions will be made in consultation with employee representatives and in a socially responsible manner. Bosch employs around 230,000 people in its mobility division and a total of 429,000 across all sectors.

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