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 29.3 - Manufacture Of Parts And Accessories For Motor Vehicles
1,200 jobs Number of planned job losses
Announcement Date
18 January 2024
Employment effect (start)
18 January 2024
Foreseen end date
31 December 2026
Description
German multinational engineering and technology company Bosch has announced that it will cut 1,200 jobs worldwide by the end of 2026.
The restructuring programme will be carried out in the software and electronics divisions. In Germany, the measure will affect 950 positions in five locations: Abstatt, Hildesheim, Leonberg, Renningen and Schwieberdingen. The conditions of the programme will be negotiated with employee representatives according to local regulations. The sources report that the company is facing challenges related to a slowing economy and high inflation as well as slower than expected development of fully automated driving.
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 421,300 people worldwide.
The previous global restructuring event has been recorded in the ERM events database Bosch-2021-WO.
Eurofound (2024), Bosch, Internal restructuring in World, factsheet number 200701, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200701.
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