Another German technology giant has announced mass layoffs

The German technology company Bosch plans to cut more than 5.5 thousand jobs in the next few years, of which about 3.8 thousand are in Germany, Spiegel magazine reported today, November 22, citing the official statement of the manufacturer.

It is noted that the figures announced by the company significantly exceed the previously announced plans to reduce staff as part of the optimization process.

"In the coming years, there will be a need to reduce up to 5.5 thousand jobs. More than two thirds of them, a total of 3.8 thousand employees, will be laid off in Germany," said a company representative.

It is assumed that some of the layoffs will begin no earlier than 2028, and in some cases not earlier than 2030, since it is during this period that the special agreements concluded by the technology company with employees expire.

The division involved in the development of intelligent driver assistance systems, as well as solutions for automating the driving process, will be particularly affected by the management's decision. According to the company, the main reasons are the stagnation of global car sales, as well as slower technology development in this industry than previously expected.

About 600 more jobs will be cut at the electric motor manufacturing plant in Hildesheim by the end of 2026, more than a thousand jobs will be cut at the steering division in Schwabisch—Gmunde no earlier than 2027-2030.

In early November, the company's chairman of the management Board, Stefan Hartung, said in an interview with the media that he could not rule out a further reduction in employment in the face of national economic problems in Germany.

Other German companies are also planning massive layoffs, in particular the home appliance company Mile, which intends to reduce by about 1,300 employees by 2028. The largest optimization of the number of staff should also affect the Volkswagen car concern.