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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.5 - Manufacture Of Domestic Appliances
3,500 jobs Number of planned job losses
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 that it will cut 3,500 jobs worldwide by the end of 2027.
So far, the company revealed that the layoffs will affect jobs in Germany. By the end of 2024, Bosch will reduce about 1,000 positions, including 450 in Germany. The restructuring programme will be implemented in the company’s household appliance division, BSH. According to the sources, the programme includes administration, and production will not be affected initially. The programme will be coordinated by a specially established transformation unit to simplify organizational structure and reduce costs in order to ensure competitiveness and to finance the necessary investments. The conditions of the programme will be negotiated with employee representatives according to local regulations.
Founded in 1886, Bosch is a leading global supplier of technology and services. The company operates in four business sectors: mobility (hardware and software), consumer goods (including household appliances and power tools), industrial technology (including drive and control) and energy and building technology. The company has 468 subsidiaries in some 60 countries and employs about 427,600 people worldwide.
A previous global restructuring events has been recorded in the ERM events database in January 2024 which affected the software and electronics division Bosch-2024-WO.
Eurofound (2024), Bosch, Internal restructuring in World, factsheet number 201032, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201032.
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