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.
Automotive supplier Bosch announced in mid-January 2024 that 950 jobs will be cut in Germany by the end of 2026. The total job cuts worldwide amount to 1,200 jobs (Bosch-2023-WO).
The restructuring affects the software and electronics divisions in five locations (Abstatt, Hildesheim, Leonberg, Renningen and Schwieberdingen). The company is currently negotiating details with employee representatives. However, due to an agreement that rules out forced redundancies at its automotive sections until the end of 2027, voluntary redundancies are needed, and Bosch stated that it wants to realise job cuts in a socially acceptable manner.
The German job cuts are part of a larger restructuring process at the multinational company brought about by a weak economy and high transformation costs. Currently, Bosch is also reducing jobs in other automotive sections (Bosch-2023-DE) and in its Power Tool Division.
Eurofound (2024), Bosch, Internal restructuring in Germany, factsheet number 200810, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200810.