Is Bosch layoffs going to affect employees in China?

On November 27, BOSCH announced its plans to lay off 5,500 employees globally, including thousands of people in Germany. But is the planned reductions going to affect the Chinese region? Let us find out in this article.

BOSCH China has just responded that the job reductions are not going to affect employees in the country. It is important to highlight here that the company’s intensifying restructuring plans come against a backdrop of the automotive industry facing serious challenges.

Earlier this month, BOSCH announced plans to lay off 7,000 people at its German factories. Chief Executive Officer Stefan Hartung noted that the company is not going to meet its economic goals by 2024 and may need to further adjust its staff.

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Saga of layoffs continues in November 2024

The series of infamous layoffs across the globe continues this month, too. Numerous big firms have been firing thousands of employees to tackle the ongoing economic challenges. Firms like KPMG, Nissan, and Oracle have chosen to lay off many.

Just this month, one of the Big Four accounting firms, KPMG, announced its decision to reduce around 330 positions from its US audit team. 1% Club, a personal finance platform, is also reducing its staff size by 15% as part of a cost-cutting strategy.

Nissan Motors is planning to relocate or lay off nearly 1,000 employees in Thailand by the fall of 2025, according to Japan Today. There is another automaker planning massive job reductions – Ford has decided to cut nearly 4,000 jobs across Europe by the end of 2027.