bosch layoffs german giant plans massive job cuts as 'auto industry has significant overcapacities'
German firm Bosch – headquartered in Gerlingen near Stuttgart, is planning significant job cuts as the global auto industry faces significant challenges. The company is expected to lay off nearly 5,500 employees in the near future.
Bosch attributed the decision to global auto sales becoming stagnant and factory capacity exceeding sales prospects in the auto industry. The firm also highlighted that the market for future technologies is not expanding at the rate as originally expected.
Nearly 3,500 of the 5,500 planned job cuts are going to take place before the end of 2027 – possibly impacting the segments of Bosch that are responsible for developing advanced driver assistance and automated driving technologies.”The auto industry has significant overcapacities,” Bosch noted in an official statement. The layoffs are still in the planning stage and the final numbers are going to be released in the near future. Half of the job cuts shall happen across Germany.
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