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.
At the end of January 2024, it was reported that German engineering and technology company Bosch will cut 560 jobs at its Power Tool Division in Leinfelden-Echterdingen. Job cuts are to be realised by the end of 2025.
After the COVID-19 pandemic, Bosch Power Tools kept losing market shares. The company wants save on costs and become more efficient to improve its market position.
Job cuts mainly affect positions in its research & development and administration departments. The company wants to realise job cuts without having to resort to compulsory redundancies. Instead, affected employees will be offered partial or early retirement schemes, severance agreements or positions at other Bosch locations. Some activities will be relocated to more cost-effective locations abroad.
The German Metalworkers' Union has already stated that it will not accept this decision.
Bosch Power Tools currently employs around 2,000 employees in Leinfelden-Echterdingen. The latest news on job cuts at Bosch follow its announcements of reducing personnel at its automotive division in Stuttgart-Feuerbach and Schwieberdingen (Bosch-2023-DE).
Eurofound (2024), Bosch Power Tools, Offshoring/Delocalisation in Germany, factsheet number 200805, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200805.