Some 10 percent of all German personnel must now look for new jobs.
The redundancies are primarily in the automotive components branch with locations in Stuttgart-Feuerbach, Schwieberdingen, Bühl, Waiblingen and Homburg. Staff are also being laid off at the Gerlingen headquarters and subsidiaries, the company announced in a statement.
Bosch, like other German auto parts suppliers, is struggling with Chinese competition. The company also manages to sell fewer parts to European car manufacturers. Moreover, electric cars need fewer parts than combustion engine cars.
The German technology company hopes to save some 2.5 billion euros through 2030 with the major rounds of layoffs. According to personnel director Stefan Grosch, a new reorganization is therefore inevitable. He wants to quickly reach agreements on compensation for affected employees.
The German concern, which also makes air conditioners and washing machines, already took leave of 11,500 employees last year. Early this year, that turned out not to be enough to compensate for the losses. It currently employs about 418,000 people.
