Germans will no longer create German quality: Bosch is laying off thousands of people

Bosch has announced the dismissal of seven thousand employees, but, as it turned out, this may not be the end. EADaily also reminds that this is not the only German company that plans to significantly reduce its staff.

Stefan Hartung, chairman of the Bosch Management Board, in an interview with the Tagesspiel newspaper confirmed that in the face of national economic problems, a further reduction in employment cannot be ruled out.

"At the moment, I cannot rule out that we will have to further adjust our staffing capabilities," he said.

According to the Efahrer portal, this year did not bring Bosch the expected profit. Instead of sales growth, it is expected that by the end of the year they will be lower than in 2023 (then about 92 billion euros).

But Stefan Hartung kept the target for 2026 — profitability should grow to 7% at the current 4%. To make this happen, the company wants to invest in growth areas such as semiconductors, software and electric mobility.

According to Business Insider, other German companies are also planning layoffs. Among them is Miele, a home appliance company that intends to reduce by about 1,300 employees by 2028. Software manufacturer SAP also announced cuts — as part of the restructuring, the company will lay off up to 10,000 people. Job cuts may also affect the Volkswagen automobile concern.