On 22 November, equipment manufacturer Bosch announced further cuts to its workforce. Around 5,500 positions in several business sectors are affected, including 3,800 in Germany. These cuts are in addition to the approximately 7,000 job losses announced at the beginning of 2024, taking place across the entire group over the coming years. In addition, almost 10,000 German employees will be subject to a reduction in working hours and pay.
The German automotive industry, both manufacturers and subcontractors, continues to be in the doldrums. While Volkswagen is in the throes of negotiations over plant closures and major wage cuts, and with parts manufacturers Continental and ZF having already announced 7,000 and up to 14,000 job cuts respectively, Bosch, Germany’s number one automotive parts supplier (429,000 employees worldwide), is launching group-wide cuts affecting 5,500 jobs, including around 3,850 in Germany. The...
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Article authors
Thomas Schnee
Freelance