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.
Bosch Automotive Steering (AS), German automotive supplier and subsidiary of Bosch, announced plans to cut 180 jobs at its site in Bietigheim-Bissingen (Baden-Wuerttemberg). Job cuts are due to site relocation of the production of hydraulic pumps; financial reasons were decisive for the transfer of production to Berlin. The company plans to carry out job cuts as socially acceptable as possible and severance packages include early retirement and partial retirement as well as relocation. Hence, the management stated that compulsory redundancies are excluded until 2021.
Despite these job cuts, according to IG Metall, 80 new engineering positions will be created in a separate area.
Bosch AS, one of the world’s leading companies in steering technology, currently employs 14,500 employees worldwide and a total of 6,000 in Germany.
Eurofound (2016), Bosch Automotive Steering (AS), Relocation in Germany, factsheet number 87300, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87300.
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