Bosch in the crisis: over 7,000 job cancellations and uncertain future!

Bosch in the crisis: over 7,000 job cancellations and uncertain future!

The Bosch Group faces enormous economic challenges and announces a drastic job cuts: More than 7,000 jobs in Germany are to be eliminated by the end of 2024. Stefan Hartung, CEO of Bosch, justifies this step as necessary in order to counter the weakening global economy, the growing pressure of the competition and the uncertainty of consumers, as kosmo.at . The change in electromobility, which is currently taking place, also leads to a significant loss of jobs, even if hardening remains optimistic that the slow adaptation of e-mobility could steam the existing job loss.

In the 2024 reporting period, Bosch is expected to miss its sales and return destinations for the first time in years. The turnover is estimated at 90 billion euros, which means a decline compared to the previous year, while the return drops from five to less than four percent, so Investweek.com . Hartung has already indicated that further cuts could be essential to secure competitiveness. In order to counter the costs, measures such as reducing working hours to 35 hours a week were discussed in the car supplier division, which met with massive resistance of around 25,000 employees who protested against such reduction plans.

growing uncertainties and challenges

The current economic framework shows that the traditional Bosch group, which almost completely belongs to a non -profit foundation and therefore does not have to pay dividends, is not immune to market pressure. At the same time, a loss of 11,500 jobs worldwide was recorded, of which there are 4,400 in Germany, as the group reported in the previous year. A look at the future remains uncertain in view of this brand, while Bosch continues to try to keep the balance between economic stability and social responsibility. Hartung relies on the aim of a return on sales of seven percent by 2026, but this is increasingly questionable in view of the current uncertainties.