BADEN-WURTTEMBERG, Germany—According to ETMM, A Bosch representative told Deutsche Presse-Agentur that the company currently expects up to 560 jobs to be cut by the end of 2026. The plans will affect more than a quarter of the approximately 2,000 employees at the Leinfelden-Echterdingen site in Baden-Württemberg, Germany. The company cited changes in market and customer requirements as one of the reasons. The exceptional economic situation during the coronavirus pandemic had largely saturated demand. Furthermore, high inflation and the generally tense economic situation have had a lasting negative impact on the consumer climate. According to Bosch, the company also intends to invest in expanding its portfolio of cordless power tools and plans to expand its North American business.

Bosch Power Tools manufactures power tools, garden tools, measuring technology and related accessories, among other things. Along with household appliances, the division forms the Consumer Goods division, which in 2022 accounted for around 25 per cent of Bosch's total turnover of just over 88 billion euros. Similar plans for the much larger automotive supplier division have been announced several times in recent weeks. Bosch is currently planning to cut up to 3,200 jobs there - including in the powertrain division and in areas responsible for vehicle computers, control units and the corresponding software.

Source: Extensive job cuts loom at Bosch