Bosch Group to fire 3500 due to weak demand

Bosch Group did announce plans to eliminate 3,500 positions at its BSH home appliances subsidiary by 2027. This decision is part of a larger trend among German manufacturers who are grappling with rising costs and decreased demand. The company aims to "reduce complexity and costs" to remain competitive 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.

Bosch is the world’s largest automotive supplier when it comes to revenues. Notably, it also is the biggest supplier of the services in the world and spread across 4 core sectors:

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's important to note that Bosch has committed to not implementing mandatory job cuts at its German mobility sites until the end of 2027. This means the layoffs you mentioned are specific to the BSH home appliances subsidiary and not indicative of the wider Bosch Group. This announcement has been done in the light of rising costs and weaker demand for the German manufacturers.