Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Bosch Automotive Steering (AS), German automotive supplier and subsidiary of Bosch, announced plans to cut 760 jobs at its site in Schwäbisch Gmünd by 2020. Job cuts are set out in the company's cost reduction programme “Bosch AS 2020” with the objective of gaining efficiency and remaining competitive in the long-run.
The management underlined that the company is investing in the site in Schwäbisch Gmünd and are aiming to extend their market share through new product developments. The company commits to carrying out job cuts as socially acceptable as possible. However, the works council and the German Metalworkers Union IG Metall have already announced protest against the job cuts.
Currently, Bosch AS employs around 5,500 staff at its site in Schwäbisch Gmünd, a total of 6,000 staff in Germany and 14,500 employees worldwide. The affected site was formerly known as "ZF Lenksysteme". Bosch Automotive Steering had fully taken over “ZF Lenksysteme” in 2015, which it had already owned by 50% before that date. Bosch AS announced in April 2016 the decision to cut 180 jobs in Bietigheim due to a relocation (Bosch Automotiv Steering (AS), 2016).
Eurofound (2016), Bosch Automotive Steering (AS), Internal restructuring in Germany, factsheet number 88596, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/88596.
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