Bosch Layoffs: German autoparts maker to cut 1,100 jobs; assembly line and back-office roles at risk
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This layoff will affect people who are involved in the site's assembly line as well as in back-office roles, reported the news agency, citing the German autoparts maker.
'The European market for steering systems is driven by price and hard fought with new suppliers,' said Bosch's electronics chief, Dirk Kress, amid the rising competition from the Chinese manufacturers in recent years. German car manufacturers have been struggling with this issue in recent times as the Asian nation contests for market share.
'The required cuts are not easy, but they are essential to secure the future of the site,' he said, according to the news agency's report.
Losing the 'competitive' edge
According to the agency report citing the autoparts maker, steering system sales were declining partly due to the sluggish uptake of electric vehicles.
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'Manufacturing steering systems at the Reutlingen site is no longer competitive,' said Bosch, highlighting that the plant would now focus on manufacturing semiconductors.
However, the company did not say whether the job cuts would involve compulsory redundancies or rely on voluntary measures such as early retirement.
Other automotive suppliers like Schaeffler and Continental have made layoffs in the past year, while sports car maker Porsche last Friday warned workers of a 'serious situation' amid collapsing demand in China. In November 2024, Bosch also announced a 5,500-employee layoff across the company, according to the agency report.
Bosch is a listed company in the Indian stock market, and the shares closed 1.37% lower at ₹37,750 after Tuesday's stock market session, compared to ₹38,320 at the previous market close.
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