Updated January 18th, 2024 at 20:50 IST
Bosch plans to cut 1,200 jobs in software division by end of 2026
Bosch cited a weak economy and high inflation, driven by increased energy and commodity costs, as factors currently impeding the transition.
Bosch job cuts: German automotive supplier Bosch is aiming to reduce its workforce by 1,200 employees in its software development division by the end of 2026, according to a company spokesperson. The proposed job cuts, as reported by Handelsblatt, are yet to be finalised, and discussions with employee representatives are pending.
The reported reason for the workforce reduction, which includes 950 cuts in Germany, is the slower-than-expected progress in the development of fully automated driving. Bosch cited a weak economy and high inflation, driven by increased energy and commodity costs, as factors currently impeding the transition.
The affected division's employees were informed of the plans yesterday afternoon, the spokesperson confirmed.
(With Reuters inputs.)
Published January 18th, 2024 at 20:50 IST