Economic crisis hits Germans: Bosch lays off thousands of employees

Economic crisis hits Germans: Bosch lays off thousands of employees

It has been reported that automotive supplier Bosch is preparing to lay off up to 1,500 people at its two plants in Germany by the end of 2025 in order to adapt to changing demands and technologies in the automobile industry.

In the statement made by Bosch, it was emphasized that, like other companies, Bosch has to adjust its employment level according to the order situation, structural changes in the automotive industry and the spread of future technologies into the market.

“Up to 1,500 personnel will be laid off”

In the statement,

“We see the need to adjust the capacity of up to 1,500 personnel in the areas of R&D, management and shooting in the automotive division at the Stuttgart-Feuerbach and Schwieberdingen sites in the state of Baden-Württemberg by the end of 2025.”

The expression was used.

In the company’s statement, it was stated that Bosch will manage the layoffs through the transfer of staff to other departments, early retirement or voluntary redundancy agreements.

Germany’s leading automobile magazine, Automobilwoche, announced that negotiations with employee representatives for layoffs at Bosch are currently ongoing.

The economy is making the situation worse

According to Bosch, the transformation in the automotive industry will have a major impact on the entire industry in the medium term. While the transition to electric mobility (Electromobility) requires high upfront investments, the weak global economy, persistent inflation caused by the increase in energy and raw material costs, and unfavorable exchange rate effects further worsen the future prospects of the sector.

He promised not to lay off workers until the end of 2027

On the other hand, following an agreement with the works council in July 2023, Bosch would avoid compulsory layoffs at the company’s facilities producing mobility products in Germany until the end of 2027.

Source link