Bosch Layoffs: German Tech Company Announces To Cut 8,000 to 10,000 Roles, Puts Employees in ‘Absolute Unbearable’ Environment, Says Report
Gerlingen, December 16: German multinational engineering and technology company Bosch announced massive layoffs this year. The Bosch layoffs were aimed at targeting around 8,000 to 10,000 people. Earlier, it was reported that the layoffs at Bosch would affect around 5,000 employees; however, the new numbers put some employees in worry as they fear getting affected by the decision.
As per a report by ABP Live, Bosch Mobility Service’s supervisory board member and chairman of the group’s works council, Frank Sell, said that the job cuts could affect around 8,000 to 10,000 employees. This year, Bosch layoffs were announced to reduce costs and help the company stay competitive in the market. The report highlighted that the layoffs announced by Bosch for nearly 10,000 employees created an “absolutely unbearable” atmosphere for employees in the company, as cited by a senior executive. Google Layoffs Coming on New Year 2025? Tech Giant Likely To Terminate Low-Performing Employees in January, Say Reports.
Bosch already informed that the company was affected by the profound transformation in the car market, which made it cut costs and stay competitive in the market. The German-based industrial giant has been going through difficult times as it depends on the car industry. The German auto industry is undergoing a crisis that has affected many automakers.
Bosch is involved in supplying brakes and spark plugs to these automakers who are facing declined demand and slower EV adoption. Amid these, they face intense competition from Chinese electric vehicle companies. Bosch layoffs were announced by the company after Fortune 500 firms from Germany started laying off people. Tech Layoffs in 2024: KPMG, Intel, Dell, Luminar and Others Reduce Hundreds of Employees This Year, So Far 1.49 Lakh People Affected.
Germany’s old model of cheap energy is severely affected by China-based carmakers, and after suffering for a considerable period, the company finally resorted to workforce reduction.
(The above story first appeared on LatestLY on Dec 16, 2024 09:19 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
