The newly announced plan, cited by the agency France-Presse (AFP), more than doubles the estimate released in November when Bosch stated it intended to eliminate 5,550 jobs by 2030.
This plan is set to affect about 3% of the global workforce, impacting the automotive division, which is compelled to reduce costs by 2.5 billion euros annually to, according to the group, maintain its competitiveness.
Overall, this implies that around 10% of the group’s workforce in Germany will leave the company, affecting several factories.
The European automotive industry, particularly in Germany, has been affected by declining global demand, rising costs, Chinese competition, and increased tariffs imposed by the United States on imports.
Citing AFP, the industrial union IG Metall criticized the “historically-sized” workforce reduction, which does not ensure the protection of factories in Germany.
“The costs associated with this massive job cut plan should be invested in the development of sustainable products and economic models,” argued Frank Sell, the representative in the automotive division.
Bosch’s head of human resources, Stefan Grosch, defended that the group faces “enormous challenges.”
Other German manufacturers, such as Continental, ZF, and Schaeffler, have also announced thousands of job cuts in recent months.
Among manufacturers, Volkswagen plans to reduce 35,000 jobs in Germany, and heavy-duty giant Daimler Truck 5,000.
