In the latest series of layoff, Bosch group said on Friday that it is planning to show pink slips to 3,500 of its employees in the BSH home appliances subsidiary by 2027. This announcement has been done in the light of rising costs and weaker demand for the German manufacturers.
Bosch Group’s 3,500 Employees to be Laid Off by 2027
In a statement, the company said that it has decided to further reduce the complexity as well as the costs to “safeguard its competitiveness” in a challenging economic environment.
Robert Bosch GmbH or Bosch is a German MNC in engineering and technology domain which has its headquarters in Gerlingen, Germany.
Founded in 1886 by Robert Bosch, the company is currently 94% owned by the Robert Bosch Stiftung, a charitable institution.
World’s Largest Automotive Supplier
Notably, the charity despite its vast majority of shares in the company has no voting rights and is instead involved in unrelated business activities like health and social causes.
Spread across 4 core functions:
1. Mobility (hardware and software)
2. Consumer goods (including household appliances and power tools)
3. Industrial technology (including drive and control)
4. Energy and building technology
It is the largest automotive supplier in the world when it comes to revenues. Notably, it also is the biggest supplier of the services in the world.
