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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.31 - Manufacture Of Electrical And Electronic Equipment For Motor Vehicles
5,500 jobs Number of planned job losses
Announcement Date
22 November 2024
Employment effect (start)
22 November 2024
Foreseen end date
Description
German engineering and technology company Bosch has announced plans to cut up to 5,550 jobs globally.
The layoffs are part of a restructuring effort in response to declining demand in the automotive sector and competition from Chinese manufacturers and will be carried out within the next few years.
The reductions will primarily affect Germany, where 3,800 positions are set to be eliminated, including 1,300 at the Schwäbisch Gmünd plant by 2030 and 750 at the Hildesheim facility by 2032.
These cuts focus on the cross-domain computing solutions division, which develops intelligent driving systems, with 3,500 jobs being phased out globally by the end of 2027. The German restructuring event has been recorded in the ERM events database Bosch 2024 - DE.
The conditions of the programme will be negotiated with employee representatives according to local regulations. Bosch emphasizes the need to align its workforce with market realities while facing resistance from works councils and unions opposing the scale of layoffs.
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 470 subsidiaries in some 60 countries and employs about 429,000 people worldwide.
The previous global restructuring events were recorded in the ERM events database in January 2024 which affected the software and electronics division Bosch-2024-WO and February 2024 BOSCH-2024b-WO
Eurofound (2024), Bosch, Internal restructuring in World, factsheet number 202058, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202058.
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