Bosch

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27.5 - Manufacture of domestic appliances
27.5 - Manufacture of domestic appliances
450 jobs
Number of planned job losses
Job loss
Announcement Date
23 February 2024
Employment effect (start)
23 February 2024
Foreseen end date
31 December 2027

Description

German multinational engineering and technology company Bosch has announced plans to cut 3,500 jobs worldwide Bosch 2024 - WO by the end of 2027, including 450 in Germany. The cuts will affect the home appliances division (BSH), which employs approximately 17,000 people in Germany.

According to sources, the program will target administrative roles, while production will remain unaffected for now. The adjustments are intended to be implemented in a socially responsible manner, and the company aims to avoid compulsory redundancies.

Bosch cited the need to reduce costs to maintain competitiveness as the reason for the layoffs.

At the end of 2023, Bosch employed 427,600 people globally, with 133,800 based in Germany.

Sources

Citation

Eurofound (2024), Bosch, Internal restructuring in Germany, factsheet number 202224, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202224.