Bosch will eliminate more than 5.5 thousand jobs due to problems in the automotive industry

Most of the employees targeted for layoffs work in the field of automotive software development; In this sector, 3.5 thousand jobs are planned to be eliminated by the end of 2027. About half of them will be in Germany, the magazine writes.

In addition, Bosch will lay off around 2,000 workers in the coming years in Hildesheim and Schwäbisch Gmünd in Germany. Spiegel clarified that the figures for the proposed cuts may not be final: the exact figure will be determined after negotiations between the company and worker representatives.

The company explained the reductions because automakers began ordering far fewer parts for electric vehicles than anticipated. Additionally, demand for driver assistance systems and automated driving solutions has been lower than expected, and many of these projects have been suspended or canceled.

In November, Bosch announced plans to lay off 7,000 employees in Germany due to business problems. Later that month, the company said it would cut hours and pay 450 employees due to the difficult economic situation.

The German car industry is suffering another blow, Reuters notes. In early November, Ford announced plans to cut nearly 4,000 jobs. Also at the end of October, Volkswagen announced its intention to close at least three factories in Germany and lay off “tens of thousands” of employees.